Trump Jr to advise Polymarket as firm eyes US comeback
Donald Trump Jr. (pictured above) has joined the advisory board of Polymarket, the prediction market platform, as the company prepares to relaunch in the United States.
At the same time, 1789 Capital, a venture capital firm where Trump Jr. is a partner, has invested in the platform, providing a welcome boost to Polymarket’s efforts to expand its U.S. presence following regulatory clearance earlier this summer.
Polymarket, founded in 2020, has grown into one of the world’s largest prediction markets by trading volume. Its users bet on outcomes of real-world events ranging from elections and economic indicators to cultural debates and sporting contests. The firm says these markets provide “accurate, real-time insights into public sentiment” by letting traders back their beliefs with money.
“Polymarket cuts through media spin and so-called ‘expert’ opinion by letting people bet on what they actually believe will happen in the world,” Trump Jr said in a statement announcing his new role. “I am pleased that 1789 Capital is investing in Polymarket and am honoured to join the company’s advisory board. I look forward to working with the team to advance its mission of bringing truth and transparency to everyone – including the U.S.”
Investment from 1789 Capital
The deal with 1789 Capital, which calls itself a fund dedicated to “funding the next era of American exceptionalism”, underscores the growing appeal of prediction markets to conservative-aligned investors, explained Reuters. The firm was co-founded in 2022 by Omeed Malik, a former Bank of America executive and prominent donor to Donald Trump’s campaigns, and Chris Buskirk.
“1789 Capital looks to invest in companies that are entrepreneurial, innovative, and demonstrate great potential for growth. Polymarket meets each of these criteria,” Malik said. “Polymarket stands at the intersection of free expression and financial innovation by empowering individuals with real-time truth in a world clouded by noise, and we are proud to support its vision.”
Polymarket did not disclose financial terms of the investment. However, Reuters reported that a source familiar with the deal said the funding was in the “double-digit millions of dollars”.
Shayne Coplan, Polymarket’s founder and CEO, called the investment a milestone moment. “This strategic investment marks a significant milestone for Polymarket. Our long-term partnership with 1789 Capital will help reinforce Polymarket’s leading position as a trusted source of free, transparent and accurate market information in the U.S. and around the world,” he said.
Preparing for U.S. comeback
The announcement of Trump Jr’s appointment comes just weeks after Polymarket completed the $112m acquisition of QCEX, a Florida-based derivatives exchange and clearinghouse with full approval from the Commodity Futures Trading Commission (CFTC). That deal gives Polymarket a regulated pathway to re-enter the U.S. market, from which it had been barred since 2022 following federal investigations.
Coplan described the acquisition as “bringing the platform home,” noting that U.S. traders would for the first time in years be able to legally participate in prediction markets on elections, policy decisions and global events.
Polymarket had been under scrutiny from US regulators during the Biden administration. The company faced investigations by both the CFTC and the Department of Justice over allegations it allowed Americans to place bets despite restrictions. The probe escalated to an FBI raid on chief executive Shayne Coplan’s home. Those inquiries were formally dropped in July 2025 by the Trump administration.
With the regulatory hurdles cleared, Polymarket has moved quickly to re-establish itself in the United States, where it will compete directly with Kalshi, currently the only prediction market operating under CFTC approval.
Growth and political relevance
Since its launch, Polymarket has positioned itself as a tool for cutting through traditional polling and punditry. Advocates argue that prediction markets provide a more accurate gauge of real-world outcomes by aggregating the views of participants with money at stake. Critics, however, say they are little more than gambling and raise concerns about speculation on elections, public policy and even war.
Despite restrictions in a number of countries, Polymarket has established itself as a dominant player, handling around $6bn in trades in the first half of 2025. The year before, global volumes topped $6bn more than four times that of its US rival, Kalshi.
“Polymarket is the largest prediction market in the world, and the U.S. needs access to this important platform,” Trump Jr, who also advises Kalshi, said.
The platform has also struck a high-profile partnership with Elon Musk’s social media platform X, which has named Polymarket its official prediction market partner. Under the deal, X’s AI chatbot Grok will integrate real-time data from Polymarket to provide users with probability insights tied to ongoing events.
