Polymarket gains funding from Trump Jr.-backed 1789 Capital

Prediction markets platform Polymarket said it has received an investment from venture capital firm 1789 Capital, which counts Donald Trump Jr. among its partners. The company also announced that Trump Jr. will join its advisory board.

While financial terms were not publicly disclosed, a source familiar with the deal told Reuters the investment is in the double-digit millions of dollars. 1789 Capital, launched in 2022 by Omeed Malik and Chris Buskirk, describes its strategy as “funding the next chapter of American exceptionalism." Local media describe the firm as a frequent backer of ventures aligned with conservative values.

Polymarket, founded in 2020 by CEO Shayne Coplan, offers trading contracts on topics ranging from politics to popular culture. The platform reported $6 billion in trades in the first half of 2025. Some trending markets on the platform include “Fed decision in September?” and “Will Trump try to fire Powell in 2025?”

Event derivatives, which involve contracts tied to specific outcomes, have seen increased participation from retail traders and institutional investors since the 2024 US presidential election. During that election, prediction markets priced a higher probability of a Trump victory than traditional polling.

“Polymarket cuts through media spin and so-called ‘expert’ opinion by letting people bet on what they actually believe will happen in the world,” Trump Jr. said in a statement.

Last month, Polymarket agreed to acquire CFTC-licensed derivatives exchange and clearinghouse QCEX for $112 million. The acquisition will allow the company to operate within a regulated framework for derivatives trading in the United States.

The development aligns with other business initiatives involving the Trump family. Over the past year, Donald Trump Jr. and his brother Eric have announced ventures spanning finance, hospitality, telecom, and cryptocurrency mining, along with advisory roles on several corporate boards.

Trump Jr. also serves as a strategic adviser to Kalshi, another prediction market platform.

Proponents of event derivatives say the platforms use collective trading behavior to provide real-time data on outcomes, while critics have raised concerns about speculation tied to political and policy events.