1789 Capital adds $300M to Polymarket, pushing valuation to $21B
VC & Fundraising ·
The firm tied to Donald Trump Jr. is set to deepen its stake in the prediction market platform as part of a roughly $1 billion round.
1789 Capital plans to invest about $300 million more in Polymarket, according to a Wall Street Journal report cited by WuBlockchain. The investment would form part of a funding round of roughly $1 billion led by the firm, valuing Polymarket at approximately $21 billion. Donald Trump Jr. is a partner at 1789 Capital.
The firm had previously put around $200 million into Polymarket. With the additional $300 million, it would become one of the platform's largest backers. The new round is still described as being led by 1789 Capital, with the $21 billion figure representing the valuation the raise would attach to the company.
Intercontinental Exchange remains Polymarket's largest investor. It disclosed in July that its $1.6 billion stake amounted to about 22% of the company's outstanding shares, a position that predates the new round and is not affected by the reported $300 million commitment from 1789 Capital.
The Polymarket raise emerges alongside other large capital movements in crypto-adjacent markets. Spot XRP ETFs have extended an inflow streak to nine consecutive days, accumulating $1.6 billion in net inflows since launch, according to Decrypt. While unrelated to Polymarket directly, the figure underscores a broader pattern of sizable institutional and investor capital entering crypto-linked products during the same period.
Terms of the new Polymarket round, including timing of close and other participants, have not been detailed in the reporting so far. It also remains unclear how the additional investment will affect Intercontinental Exchange's proportional stake once the $1 billion round is completed, or whether other existing investors are participating alongside 1789 Capital.