Polymarket raises $1B round led by 1789 Capital, valuation hits $21B
VC & Fundraising ·
The prediction market platform's new funding round marks a 40% jump from its previous valuation despite ongoing US regulatory scrutiny.
Polymarket has raised $1 billion in a funding round led by 1789 Capital, the investment firm associated with Donald Trump Jr., according to cryptopotato.com. The round values the crypto-based prediction market at $21 billion, a 40% increase over its prior valuation, per figures reported by wublockchain.xyz.
As part of the deal, 1789 Capital plans to invest $300 million of the total $1 billion into Polymarket, the firm's largest single commitment to the platform to date. The remainder of the round involves other, unnamed participants, though the full investor list has not been disclosed in available reporting.
The scale of the raise underscores investor appetite for prediction markets even as Polymarket continues to navigate regulatory headwinds in the United States. The platform, which allows users to trade on the outcomes of real-world events using cryptocurrency, has drawn attention from US regulators over how its markets are structured and offered to American users, though the funding round proceeded regardless of that scrutiny.
The $21 billion valuation places Polymarket among the more heavily capitalized players in the prediction market and broader crypto-adjacent sector, reflecting a rapid re-rating from its previous funding benchmark. The jump in valuation, confirmed across multiple reports on the round, signals that backers view the platform's growth trajectory as outweighing near-term regulatory risk.
What remains unclear is how the $1 billion will be deployed — whether toward product expansion, compliance efforts to address US regulatory concerns, or geographic growth — and which additional investors beyond 1789 Capital participated in the round. Also unresolved is how the funding and new valuation will affect Polymarket's ongoing regulatory posture in the US market, an issue that has shadowed the platform's operations even as its financial backing grows.