- Talks between Polymarket and 1789 Capital began 18 months ago, but investment waited until regulatory clarity was established.
- Trump Jr. also serves as an advisor to rival Kalshi, giving him influence across both major U.S. prediction platforms.
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Donald Trump Jr.'s venture capital fund, 1789 Capital, has made a multi-million-dollar investment in Polymarket, the blockchain-based prediction platform recently valued at more than $1 billion.
What Happened: The fund, which Trump Jr. joined as a partner in 2023, is said to have invested a double-digit million sum and will also place Trump Jr. on Polymarket's advisory board, according to Axios.
The move positions 1789 alongside backers such as Founders Fund, which previously led a valuation round for the company.
Polymarket, which operates the world's largest prediction market with more than $6 billion in wagers this year, has faced regulatory hurdles in the United States.
Americans are currently barred from using the platform, but its $112 million acquisition of QCEX, a derivatives exchange holding a Commodity Futures Trading Commission (CFTC) license, paves the way for U.S. entry.
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Why It Matters: The company also confirmed that investigations by the Department of Justice and CFTC, which included an FBI raid on CEO Shayne Coplan's apartment last November, have been closed.
A source familiar with the deal said 1789 Capital founder Omeed Malik began talks with Coplan 18 months ago but waited until regulatory clarity emerged before investing.
1789 Capital, which also holds stakes in Anduril and SpaceX, views Polymarket as a potential future IPO candidate.
Trump Jr. meanwhile maintains an advisory role at Polymarket rival Kalshi, which he joined earlier this year in a paid capacity.
Both Polymarket and Kalshi drew significant attention in 2024 after their users correctly predicted Donald Trump's election victory, diverging from traditional pollsters.
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