Trump Jr.’s 1789 Capital powers Polymarket funding round to $21 billion valuation
A new Polymarket funding round has pushed the prediction market operator’s valuation to $21 billion, with Donald Trump Jr.’s investment firm 1789 Capital stepping in to lead a fresh capital injection worth roughly $1 billion. The financing, first reported by Bloomberg and later confirmed by additional outlets including TechCrunch and crypto.news, marks another sharp jump for a company that has spent the past year attracting money from venture firms and, notably, one of the world’s largest exchange operators.
Key takeaways
- 1789 Capital, founded by Donald Trump Jr., is leading a roughly $1 billion round that would value Polymarket at $21 billion, up 40% from its previous $15 billion valuation.
- 1789 Capital had already put about $200 million into Polymarket and is now adding another $300 million, taking its disclosed commitment to around $500 million.
- Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, remains Polymarket’s largest shareholder with roughly 22% ownership after committing up to $2 billion in October 2025 and another $600 million in March 2026.
- Polymarket returned to U.S. users by acquiring the CFTC-licensed exchange QCEX, years after a 2022 CFTC settlement forced it to block American traders and pay a $1.4 million fine.
- State regulators and House Judiciary Committee Democrats are both scrutinizing the platform, though the congressional inquiry into 1789 Capital has not produced any findings of wrongdoing.
1789 Capital Leads $1 Billion Investment in Polymarket
1789 Capital is spearheading the new financing round, according to reporting from Bloomberg that was later corroborated by the Wall Street Journal and TechCrunch. The firm, in which Trump Jr. is a partner, previously committed approximately $200 million to Polymarket and is now adding another $300 million, according to a spokeswoman for the firm who confirmed the details. That brings 1789 Capital’s total disclosed stake in the company to roughly $500 million across multiple rounds — a striking escalation for a fund that, according to crypto.news, managed just a few hundred million dollars two years ago and now oversees more than $3 billion in assets.
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