Trump Jr. Invests Double-Digit Millions In $1B Prediction Market Platform Polymarket

Donald Trump Jr.’s venture capital fund, 1789 Capital, has reportedly made an eight-figure investment in Polymarket, a blockchain-based prediction market platform recently valued at over $1 billion [1]. The investment, said to be in the range of double-digit millions, positions the fund as a new backer alongside major venture firms such as Founders Fund, which previously led a valuation round for the company. Trump Jr. is also expected to serve on Polymarket’s advisory board as part of the deal [1].

The investment came after 1789 Capital founder Omeed Malik initiated discussions with Polymarket CEO Shayne Coplan 18 months ago. However, the fund reportedly delayed finalizing the deal until regulatory clarity emerged, following a period of intense scrutiny from U.S. authorities [1]. In late 2023, the Department of Justice and the Commodity Futures Trading Commission (CFTC) launched investigations into the company, including an FBI raid on Coplan’s apartment. These investigations have since reportedly been closed, according to the company [1].

Polymarket has faced regulatory restrictions in the U.S., which have blocked American users from accessing the platform. However, its $112 million acquisition of QCEX — a derivatives exchange holding a CFTC license — is seen as a strategic step toward entering the U.S. market [1]. The platform, which operates the world’s largest prediction market with over $6 billion in bets this year, has attracted significant attention for its ability to accurately forecast political events. In 2024, Polymarket users correctly predicted Donald Trump’s election victory, a result that diverged from traditional polling data [1].

1789 Capital, which also holds stakes in companies like Anduril and SpaceX, appears to be positioning Polymarket as a potential candidate for a future initial public offering [1]. The investment aligns with the fund’s broader strategy to back high-growth technology firms with disruptive potential. Meanwhile, Trump Jr. remains an advisor to Polymarket’s rival, Kalshi, which he joined earlier this year in a paid advisory role [1].

Source: [1] Donald Trump Jr. Reportedly Investing Eight Figures In Polymarket (https://www.benzinga.com/crypto/cryptocurrency/25/08/47336422/donald-trump-jr-reportedly-investing-eight-figures-in-polymarket?utm_source=coingecko&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site)