Donald Trump Jr.-linked investment firm 1789 Capital is reportedly investing about $300 million in Polymarket, a blockchain-based prediction market.
1789 Capital, where Donald Trump Jr. is a partner, will make the $300 million investment as part of a $1 billion round that would value Polymarket at $21 billion, people familiar with the matter told the Wall Street Journal on Monday.Â
The investment would bring 1789 Capital’s total investment in Polymarket to about $500 million and make it one of the platform’s largest backers.
Cointelegraph has approached 1789 Capital and Polymarket for comment.
ICE remains Polymarket’s largest disclosed investor. In a July 30 10-Q filing, ICE said it had invested a combined $1.6 billion in Polymarket preferred shares. The holdings had a carrying value of approximately $2 billion as of June 30 and represented about 22% of outstanding shares, or 14% on a fully diluted basis.
Polymarket reportedly…
