Key facts
- Polymarket secured $300 million from 1789 Capital, an investment fund co-founded by Donald Trump Jr.
- The funding is part of a larger $1 billion round.
- The deal values Polymarket at $21 billion, up from a previous $15 billion valuation.
- 1789 Capital's total investment in Polymarket will reach approximately $500 million.
- Prediction markets face significant regulatory and legal challenges in the US and globally.
Polymarket, a blockchain-based prediction market platform, has reportedly secured $300 million from 1789 Capital, an investment fund where Donald Trump Jr. is a partner. This investment is part of a larger $1 billion funding round that values the company at $21 billion, a significant increase from its previous $15 billion valuation sought in April. The deal brings 1789 Capital's total investment in Polymarket to approximately $500 million, making it one of the platform's largest backers. ICE remains Polymarket's largest disclosed investor, having invested a combined $1.6 billion in preferred shares. Prediction markets are facing increasing regulatory scrutiny in the US and globally, with JPMorgan Chase reportedly ending a banking relationship with Polymarket over regulatory concerns. More than a dozen US states have taken legal action against prediction sites over sports event contracts, and authorities in several countries have also blocked or restricted access to Polymarket.