Trump Jr.-linked 1789 Capital leads Polymarkets $1B raise: Report
Donald Trump Jr.-linked investment firm 1789 Capital is reportedly investing about $300 million in Polymarket, a blockchain-based prediction market. 1789 Capital, where Donald Trump Jr. is a partner, will make the $300 million investment as part of a $1 billion round that would value Polymarket at $21 billion, people familiar with the matter told the Wall Street Journal on Monday. The investment would bring 1789 Capital‘s total investment in Polymarket to about $500 million and make it one of the platform’s largest backers. Cointelegraph has approached 1789 Capital and Polymarket for comment. ICE remains Polymarkets largest disclosed investor. In a July 30 10-Q filing, ICE said it had invested a combined $1.6 billion in Polymarket preferred shares. The holdings had a carrying value of approximately $2 billion as of June 30 and represented about 22% of outstanding shares, or 14% on a fully diluted basis. Polymarket reportedly started talks to raise $400 million in fresh capital in April, when it was seeking to raise the funds at a potential $15 billion valuation, below the $22 billion valuation of its main competitor, Kalshi. Prediction markets are facing increasing regulatory scrutiny in the US and worldwide. On Aug. 14, JPMorgan Chase reportedly ended a banking relationship with Polymarket









