1789 Capital Leads $1 Billion Polymarket Round at $21 Billion Valuation
Updated
Updated · The New York Times · Sep 1
1789 Capital Leads $1 Billion Polymarket Round at $21 Billion Valuation
3 articles · Updated · The New York Times · Sep 1
Summary
$1 billion is the target for Polymarket’s new funding round, with Donald Trump Jr.’s 1789 Capital leading and expected to contribute about $300 million, according to the firm.
The raise would value the prediction market at $21 billion, up from about $15 billion; 1789 Capital had already invested roughly $200 million in the company.
Polymarket and rival Kalshi have surged in popularity over the past year as users wager on outcomes ranging from politics to entertainment.
The deal deepens the Trump family’s financial ties to prediction markets as Donald Trump Jr. advises both Polymarket and Kalshi, while President Trump’s CFTC appointee has backed the sector against state regulation.
Can blockchain-powered prediction markets truly revolutionize global forecasting, or is their massive $21 billion valuation merely a speculative bubble?
Will state gaming authorities successfully classify event contracts as illegal gambling, or will federal regulators cement them as legitimate financial derivatives?