Polymarket raises $1B in round led by Trump Jr's 1789 Capital

Polymarket raised $1 billion in a new funding round that values the prediction market at $21 billion, up from its prior $15 billion valuation, according to a CoinDesk report. 1789 Capital, the firm led by Donald Trump Jr., is putting in about $300 million in the round, adding to a roughly $200 million stake it already holds.

• The raise deepens the link between the Trump family and Polymarket, which has been in focus as the CFTC establishes new rules for event contracts.
• Financial details beyond the valuation and 1789 Capital's contribution were not disclosed.