Crypto
Home›Crypto›Market Structure›1789 Capital to lead $1B funding round for Polymarket
1789 Capital to lead $1B funding round for Polymarket
The reported investment implies a Polymarket valuation of $21 billion, and 1789 Capital’s stake would raise its total disclosed funding to about $500 million.
Donald Trump Jr.-linked 1789 Capital is reportedly set to lead a $1 billion investment round for Polymarket, a blockchain-based prediction market, valuing the platform at about $21 billion, Cointelegraph reported. The proposed round would place Polymarket just below Kalshi’s $22 billion valuation.
Cointelegraph said 1789 Capital would invest about $300 million as part of the larger round, which would bring its total investment in Polymarket to roughly $500 million and make the firm one of the platform’s largest backers. Cointelegraph added that ICE remains Polymarket’s largest disclosed investor.
Cointelegraph also cited Polymarket-related disclosures from ICE, including a July 30 10-Q filing showing ICE invested a combined $1.6 billion in Polymarket preferred shares. That stake had a carrying value of about $2 billion as of June 30 and represented around 22% of outstanding shares, or 14% on a fully diluted basis.
The report noted that prediction markets have faced rising regulatory scrutiny in the US and abroad. Cointelegraph said JPMorgan Chase reportedly ended a banking relationship with Polymarket on Aug. 14 over regulatory concerns, and that more than a dozen US states have taken legal action involving Polymarket and Kalshi, with authorities in several countries also blocking or restricting access.