Donald Trump Jr. has made a significant investment into blockchain-based prediction market platform Polymarket through his venture firm, 1789 Capital. The investment is reported to be in the tens of millions of dollars and comes with Trump Jr. joining Polymarket's advisory board.
This partnership, which has been in discussions for the past 18 months, is seen as a strategic move to enhance Polymarket's growth and U.S. market positioning. Shayne Coplan, Founder & CEO of Polymarket, stated in a press release: "We are proud to formally welcome 1789 Capital as a strategic partner and Donald Trump Jr. to our advisory board as we continue building our platform to reflect real-world sentiment, in real time, for all to see."
The investment comes as Polymarket's valuation has soared, recently reaching $1 billion following a $200 million funding round led by Peter Thiel's Founders Fund. This boosted valuation potentially paves the way for an IPO in the future.
Polymarket has experienced remarkable growth, processing over $8 billion in bets during the last U.S. election cycle alone, putting it ahead of major online sports betting operators like FanDuel, DraftKings, and Betfair in terms of traffic.
The platform's U.S. regulatory status is critical to its expansion plans. While Polymarket currently blocks U.S.-based users due to regulatory restrictions, its recent acquisition of derivatives exchange QCEX—which holds a license from the U.S. Commodity Futures Trading Commission (CFTC)—could enable legally compliant prediction markets for American users in the future.
Trump Jr.'s involvement aligns with 1789 Capital's mission to back technologies that reinforce "American dynamism," a term increasingly used by conservative venture capital circles to describe a return to domestic innovation and self-sufficiency.