Polymarket is in talks to raise $1 billion at a valuation above $20 billion, a funding round led by 1789 Capital, the investment firm co-founded by Donald Trump Jr. To put the trajectory in perspective: the prediction market platform was valued at roughly $300 million not long ago.
The round places Polymarket in rarefied air among crypto-adjacent startups, rivaling the scale of funding typically reserved for late-stage fintech giants.
From advisory board seat to lead investor
1789 Capital’s relationship with Polymarket isn’t new. The firm invested in the platform back in August 2025, reportedly deploying a sum in the double-digit millions. That initial bet came shortly after a round that valued the company at around $300 million, meaning 1789 Capital is now sitting on enormous paper gains.
Trump Jr. joined Polymarket’s advisory board following that initial investment.
