Donald Trump Jr.’s venture capital firm, 1789 Capital, has made a multi-million-dollar investment in Polymarket, the blockchain-based prediction platform that recently surpassed a $1 billion valuation. The fund, which Trump Jr. joined as a partner in 2023, is reported by Axios to have contributed a double-digit million number and to have placed Trump Jr. on Polymarket’s advisory board.
Polymarket operates what is described as the world’s largest prediction market, handling more than $6 billion in wagers this year. The platform has faced regulatory hurdles in the United States, where Americans are currently barred from using it. Its $112 million acquisition of QCEX, a derivatives exchange holding a Commodity Futures Trading Commission license, is intended to clear a path for U.S. entry.
Polymarket and the platform’s broader regulatory timeline received renewed attention as investigations by the Department of Justice and the CFTC—supplemented by a high-profile FBI raid on CEO Shayne Coplan’s apartment last November—have been closed. A person familiar with the deal said Omeed Malik, founder of 1789 Capital, began talks with Coplan about 18 months ago but waited for greater regulatory clarity before investing.
In addition to Polymarket, 1789 Capital has stakes in defense-tech and space ventures such as Anduril and SpaceX. The firm views Polymarket as a potential candidate for a future initial public offering. It’s worth noting that Trump Jr. also holds an advisory role at Kalshi, a rival platform, which he joined earlier this year in a paid capacity.
Both Polymarket and Kalshi drew notable attention in 2024 after some users correctly predicted Donald Trump’s election victory, a result that highlighted the growing influence of prediction-market platforms beyond traditional polling.
What this means: The investment signals growing interest from high-profile investors in crypto-native prediction platforms, even as U.S. regulators continue to shape the landscape. Polymarket’s leveraging of QCEX to gain a U.S. foothold could accelerate its expansion, pending further regulatory developments. The involvement of a well-connected investor like 1789 Capital—and Trump Jr.’s advisory role at Kalshi—adds a political-savvy dimension to Polymarket’s trajectory, raising questions about governance, transparency, and potential synergies across related ventures.
Summary: A prominent venture fund linked to Donald Trump Jr. is backing Polymarket with a significant investment and a seat on its advisory board, underscoring investor confidence amid regulatory scrutiny and recent moves to secure U.S. access through QCEX. The development positions Polymarket for increased visibility as the prediction-market sector navigates regulatory and market dynamics, with ongoing attention on how governance and cross-venture relationships will unfold.
Optional note for editors: The story benefits from tying together regulatory milestones (QCEX license, DOJ/CFTC investigations closed), strategic moves (advisory board appointment, future IPO potential), and cross-venture connections (Kalshi advisory role, investments in Anduril/SpaceX) to provide readers a clear view of the evolving landscape around prediction markets and their investors. If appropriate, consider adding a brief explainer for readers unfamiliar with how QCEX licensing affects U.S. access and the current regulatory posture toward prediction markets.