Donald Trump Jr.’s 1789 Capital is now leading a $1 billion round into Polymarket and putting in roughly $300 million itself, on top of around $200 million already invested. That pushes Polymarket to a $21 billion valuation. Trump Jr. advises Polymarket. He also advises rival Kalshi. And both companies operate in a market whose future in the US depends heavily on the CFTC, currently led by a Trump appointee who has been openly favourable toward prediction markets. Political proximity, regulatory influence, advisory roles across direct competitors and half a billion dollars of exposure through one family-linked investment firm.
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