Trump Jr’s fund 1789 Capital leads a $1bn round valuing Polymarket at $21bn
Donald Trump Jr is a partner at the fund leading Polymarket’s new funding round. He is also a strategic adviser to Kalshi, Polymarket’s principal competitor.
1789 Capital is putting about $300m into a round of roughly $1bn that values Polymarket at $21bn, Forbes reported. Other investors in the round have not been named.
The firm was already on the register. It had previously invested about $200m when Polymarket was valued at roughly $15bn, so the new cheque takes its total commitment to around $500m.
A $15bn valuation becoming $21bn is a 40% increase in a matter of months. That is a fast repricing for a company whose regulatory position in its largest market remains unsettled.
The new number puts Polymarket close to level with Kalshi, which was valued at about $22bn in May. Two prediction markets are now worth more than $40bn between them, in a sector that barely existed...
Copyright of this story solely belongs to thenextweb.com. To see the full text click HERE
