Polymarket reportedly raises $300 million from Donald Trump Jr.’s investment fund
Polymarket has reportedly raised $300 million from 1789 Capital, an investment firm linked to Donald Trump Jr. The funding comes amid increasing regulatory scrutiny regarding the legality of prediction markets in various US states.
Why it matters
The intersection of political figures, prediction markets, and regulatory battles highlights the growing influence of decentralized finance in political discourse.
The popular prediction market Polymarket has raised $300 million from 1789 Capital as part of a new funding round totaling around $1 billion, the Wall Street Journal reported , citing unnamed sources.
1789 Capital, an investment fund in which Donald Trump Jr. is a partner, previously invested $200 million in the prediction site. The firm has funded other controversial tech-related projects, including the Enhanced Games , the so-called “steroid Olympics” founded by veterans of various tech companies.
TechCrunch has reached out to Polymarket for comment.
Prediction markets have come under increased regulatory scrutiny, as many state governments seek to institute new rules around how (or even if) the sites can be used by residents. There are at least 20 states engaged in litigation against prediction sites over sports wagers offered on those sites.
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