Donald Trump Jr.’s venture capital firm, 1789 Capital, is leading a $1 billion funding round for prediction market Polymarket, valuing the company at $21 billion, a firm spokesperson said Monday.
1789 Capital is contributing about $300 million to the round, spokesperson Alexa Henning said. The firm has already invested roughly $200 million in Polymarket.
The latest funding values Polymarket 40% higher than its previous valuation of about $15 billion just months ago, highlighting the rapid growth of prediction markets.
Polymarket and Kalshi expand prediction market business
Polymarket and rival platform Kalshi allow users to wager on outcomes ranging from statements a president may make in a speech to which contestants on a reality television show might get married. Both companies have expanded sharply over the past year.
The Trump family’s involvement in the sector has grown alongside the industry. Trump Jr. became an adviser to Kalshi in 2025 and received shares valued at more than $300,000. He also advises Polymarket separately.
President Donald Trump has taken an increasingly favorable position toward prediction markets during the same period. Michael Selig, Trump’s appointee to lead the Commodity Futures Trading Commission, which regulates prediction markets, has praised the companies and sued states seeking to regulate them.
In May, Trump wrote on Truth Social that prediction markets would thrive under his leadership.
