Investment company 1789 Capital, in which Donald Trump Jr. is a partner, is expected to lead a $1 billion funding round for prediction market platform Polymarket, which would see the operator’s valuation top $21 billion.
According to the Wall Street Journal, sources familiar with the matter said that Trump Jr.’s venture firm would invest $300 million into Polymarket during the latest funding round, making 1789 Capital one of Polymarket’s biggest investors.
In comparison, the New York Stock Exchange’s parent company Intercontinental Exchange is currently Polymarket’s largest investor, after a July disclosure indicating that its $1.6 billion stake in the operator accounted for 22% of Polymarket’s shares.
