Polymarket secures $300 million from Donald Trump Jr.'s 1789 Capital fund
Polymarket obtained a $300 million investment from 1789 Capital, a fund partnered by Donald Trump Jr., as part of a roughly $1 billion financing round.
Polymarket, a leading prediction-market platform, announced a fresh $300 million investment from 1789 Capital, pushing the ongoing financing round to roughly $1 billion. 1789 Capital, a venture fund that lists Donald Trump Jr. as a partner, had earlier put $200 million into the platform. The fund’s portfolio includes other controversial tech-focused ventures, notably the Enhanced Games, a “steroid Olympics” concept. Meanwhile, prediction markets are under growing scrutiny, with at least 20 states litigating over sports-betting offerings on such sites.
The federal government, via the Commodity Futures Trading Commission, has repeatedly defended the industry’s federal oversight, suing multiple states and asserting that the CFTC, not state attorneys general, should regulate the sector. A recent letter from 44 state attorneys general contested the CFTC’s authority over sports-related wagers, while Donald Trump Jr. described the industry as already enjoying “robust oversight” by federal officials.
Why it matters
A major political figure's fund is backing a prediction market amid escalating legal battles over its regulation.
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