Polymarket Valued at $21bn in Trump Jr.-Linked Funding Round

Polymarket is being valued at $21bn in a $1bn funding round led by 1789 Capital, the investment firm in which Donald Trump Jr. is a partner.

1789 Capital is expected to contribute approximately $300m, according to a spokesperson for the firm, after previously investing around $200m in Polymarket.

The new valuation represents a 40% increase from the approximately $15bn at which Polymarket was valued several months ago.

Trump Jr. joined Polymarket’s advisory board in 2025 after 1789 Capital made its initial strategic investment in the company. He also advises rival prediction-market operator Kalshi.

Polymarket allows users to trade contracts based on the outcomes of events involving politics, economics, sports and entertainment. It secured a route back into the US market in 2025 following its $112m acquisition of QCEX, which operates a Commodity Futures Trading Commission-regulated derivatives exchange and clearinghouse.

The CFTC subsequently approved Polymarket’s return to the US, more than three years after the company agreed to block American users following a settlement concerning its operation of an unregistered trading platform.

Polymarket has also received substantial backing from Intercontinental Exchange, the owner of the New York Stock Exchange. ICE made an initial $1bn investment in October 2025, followed by a further $600m investment in March.

In a July regulatory filing, ICE said its holdings represented around 22% of Polymarket’s outstanding shares as of June 30.

The funding comes as prediction markets attract greater interest from mainstream financial institutions, while continuing to face scrutiny over market integrity and the respective roles of federal and state regulators.