Trump Jr's 1789 Capital leads $1 billion Polymarket round at $21 billion valuation

Aug 31, 2026

Donald Trump Jr.’s venture capital firm, 1789 Capital, is leading a $1 billion funding round in prediction market Polymarket, valuing the platform at $21 billion. The firm is contributing $300 million, bringing its total stake to $500 million. This funding comes amid a massive valuation surge from $300 million in 2025, following a November 2025 CFTC regulatory clearance. However, the rapid growth and political ties have triggered an August 2026 congressional inquiry led by Representative Jamie Raskin.

Polymarket $1 billion funding round

▪Intercontinental Exchange committed close to $2 billion to Polymarket, including a $1 billion investment in October 2025 and a $600 million follow-on in March 2026
▪Polymarket initiated discussions in April 2026 to raise $400 million in fresh capital at a potential $15 billion valuation
▪JPMorgan Chase terminated its banking relationship with Polymarket in August 2026 due to regulatory concerns but remained open to an underwriting role for a potential IPO
▪Venture capital firm 1789 Capital is leading a $1 billion funding round in the blockchain-based prediction market Polymarket

1789 Capital $500 million stake

▪1789 Capital is contributing approximately $300 million to the $1 billion funding round, on top of roughly $200 million the firm previously invested in Polymarket
▪1789 Capital made an initial equity investment in Polymarket in August 2025 when the prediction market was valued at approximately $300 million
▪The assets under management of 1789 Capital grew from a few hundred million dollars before the 2024 election to over $3 billion by mid-2026
▪The $300 million contribution brings 1789 Capital's total investment in Polymarket to approximately $500 million, making it one of the platform's largest backers

Polymarket valuation surge timeline

▪The $1 billion funding round values Polymarket at $21 billion post-money, representing a 40% increase from its previous valuation of roughly $15 billion
▪Polymarket's valuation surged from approximately $300 million in August 2025 to an estimated $15 billion by spring 2026
▪Polymarket's competitor Kalshi raised capital at a $22 billion valuation in May 2026 and entered discussions for a valuation of roughly $40 billion
▪Polymarket's valuation stood at approximately $9 billion less than a year prior to the September 2026 funding round announcement

Trump family prediction market ties

▪Donald Trump Jr. became an adviser to Kalshi in 2025 and received shares in the platform valued at more than $300,000
▪Donald Trump Jr. serves as a partner and co-founder of 1789 Capital, the venture capital firm leading Polymarket's $1 billion funding round
▪Michael Selig, President Donald Trump's appointee to run the Commodity Futures Trading Commission, has publicly supported prediction markets and challenged state-level regulatory efforts
▪Donald Trump Jr. joined Polymarket's advisory board as part of an August 2025 investment deal and separately advises rival platform Kalshi

CFTC regulatory clearance approval

▪Polymarket and its competitor Kalshi face ongoing jurisdictional disputes with multiple United States jurisdictions that claim regulatory authority over event contracts
▪The Commodity Futures Trading Commission granted Polymarket regulatory clearance to operate as a fully regulated platform in the United States on November 25, 2025

Congressional inquiry 1789 Capital

▪The congressional inquiry led by Representative Jamie Raskin is examining whether 1789 Capital received regulatory advantages linked to political relationships after the 2024 election
▪United States Representative Jamie Raskin launched a congressional inquiry in August 2026 into the rapid growth of 1789 Capital and its regulatory connections