Donald Trump Jr. has invested in the prediction platform based on Polymarket blockchain through his venture capital company 1789 capital. As part of the agreement, Trump Jr. will join the Polymarket Advisory Council, according to a press release.
The investment is part of a push in 1789 capital in infrastructure linked to crypto and alternative financing tools. According to Axios, 1789 has hired tens of millions of dollars in Polymarket and has had discussions with the company for 18 months.
Polymarket, which allows users to bet on the results of real world events such as elections, legal decisions and geopolitical conflicts, has experienced strong growth in user activity. During the last US electoral cycle alone, the platform treated more than $ 8 billion in Paris. This volume put it before the main online sports betting operators such as Fanduel, Draftkings and Betfair in terms of traffic.
The company recently closed a 200 million dollars financing round led by Peter Thiel’s Founders Fund, bringing its evaluation to $ 1 billion.
While Polymarket is currently preventing American users from participating in its Paris markets due to regulatory restrictions, its recent acquisition of QCEX derivative exchange could change this. QCEX has a license from the Commodity Futures Futures US Commission Futures Committee (CFTC)Who opens the door to Polymarket to offer prediction markets legally comply with American users in the future.
The prediction markets – where users invest funds on event results – have drawn renewed attention to their precision and speed compared to traditional survey or expert. From the perspective of elections or court decisions, these markets often serve as gauges in real time of public feeling and risk assessment.
The investment is aligned with the declared mission of 1789 capital to support technologies which strengthen “American dynamism” – an increasingly used term by conservative venture capital circles to describe a return to national innovation and self -sufficiency.
