Donald Trump Jr. Joins Polymarket Advisory Board After 1789 Capital Investment

Donald Trump Jr. has joined Polymarket’s advisory board following a new investment from 1789 Capital, a venture capital firm in which he is a partner. The announcement came in a press release on Tuesday, alongside the revelation that 1789 Capital has invested in the New York-based prediction market [1]. The deal, first reported by Axios, had reportedly been in discussions for approximately 18 months and was delayed until Polymarket had a clear path to reentering the U.S. market [1].

This move follows Polymarket’s acquisition of QCEX, a derivatives exchange and clearinghouse, for $122 million, a transaction that signaled the firm’s intent to return to the U.S. market [1]. According to an unnamed source, the firm wanted to ensure regulatory clarity before finalizing the investment and advisory relationship [1]. In a statement, Trump Jr. described Polymarket as an “important platform” that Americans need access to, emphasizing its ability to help users cut through media and political spin [1].

Trump Jr. has also been advising Kalshi, another prediction market, since January, assisting with partnerships and market strategy [1]. Polymarket, which saw increased activity in the lead-up to the 2024 U.S. presidential election, predicted a late surge in support for Donald Trump and also foresaw Joe Biden’s withdrawal from the Democratic ticket [1]. While recent trading activity has cooled, the platform reported $1 billion in trading volume in July, with approximately 285,000 active traders during that period [1].

1789 Capital, according to its website, is “funding the next chapter of American exceptionalism,” and its investment portfolio includes firms such as SpaceX [1]. Meanwhile, Polymarket has also drawn closer to Elon Musk’s companies. In June, X (formerly Twitter) partnered with Polymarket, making it the social media platform’s official prediction market and launching a real-time news analysis tool [1].

Polymarket had previously agreed to block U.S. users in 2022 after a settlement with the Commodity Futures Trading Commission over registration issues, but it has since signaled a renewed push for a U.S. comeback [1].

Source: [1] Donald Trump Jr. Joins Polymarket Following Investment Into Crypto Prediction Market

(https://decrypt.co/336912/donald-trump-jr-joins-polymarket-investment-crypto-prediction-market)