|

Trump Jr. Joins Polymarket Board as 1789 Capital Pours Millions

💰

Donald Trump Jr. has joined the advisory board of blockchain-based prediction market Polymarket after his enterprise capital agency, 1789 Capital, made a serious funding within the fast-growing platform.

The deal, introduced in a press release on Wednesday, exhibits each Polymarket’s ambitions to broaden its international footprint and 1789 Capital’s push into crypto infrastructure and different finance.

1789 Capital Invests Tens of Thousands and thousands in Polymarket, Trump Jr. Joins Advisory Board

In keeping with the press launch, 1789 Capital dedicated “tens of thousands and thousands of {dollars}” to Polymarket after 18 months of discussions.

The funding aligns with the agency’s acknowledged mission of backing applied sciences that drive what it calls “American dynamism,” a theme gaining traction amongst conservative enterprise traders targeted on home innovation and self-sufficiency.

Based in 2020, Polymarket permits customers to guess on the outcomes of real-world occasions starting from elections and courtroom rulings to geopolitical conflicts.

The platform has processed greater than $8 billion in bets, together with $2.5 billion through the 2024 U.S. election cycle, and is now the biggest prediction market on the earth by buying and selling exercise. Within the first half of 2025 alone, customers wagered round $6 billion on the platform.

Trump Jr., who will now advise Polymarket because it scales, mentioned the corporate “cuts by way of media spin and so-called ‘knowledgeable’ opinion by letting folks guess on what they really imagine will occur.”

He added that the U.S. wants entry to such a platform and known as his appointment a part of a mission to “carry fact and transparency to everybody, together with the U.S.”

Shayne Coplan, Polymarket’s founder and CEO, mentioned the partnership with 1789 Capital “marks a big milestone” for the corporate.

“We’re proud to formally welcome 1789 Capital as a strategic accomplice and Donald Trump Jr. to our advisory board as we proceed constructing our platform to replicate real-world sentiment, in actual time, for all to see,” he mentioned.

Polymarket has just lately been within the highlight for its fast progress and regulatory challenges. The corporate is finalizing a $200 million funding round led by Peter Thiel’s Founders Fund, which might give it a $1 billion valuation and “unicorn” standing.

It additionally completed the $112 million acquisition of QCEX, a derivatives alternate and clearinghouse licensed by the U.S. Commodity Futures Buying and selling Fee (CFTC). The transfer positions Polymarket to re-enter the U.S. market after years of restrictions.

Polymarket has technically barred American customers since 2022, when it settled with regulators over unauthorized entry by U.S. residents. However earlier this summer season, both the Department of Justice and the CFTC closed their probes into the corporate with out motion, clearing a serious impediment for its growth.

Coplan, who revealed that the FBI raided his dwelling through the investigation, known as the decision a vindication. “Justice prevailed. God Bless America,” he wrote in a post on X.

The platform has additionally struck high-profile partnerships to bolster its attain. In June, it became the official prediction market partner of Elon Musk’s social media platform X, integrating forecasts alongside AI-powered evaluation from Musk’s xAI chatbot, Grok.

The collaboration seeks to mix real-time prediction markets with social commentary, growing Polymarket’s visibility forward of the 2025 U.S. election cycle.

For 1789 Capital, the Polymarket funding is a part of a broader technique.

“Polymarket stands on the intersection of free expression and monetary innovation by empowering people with real-time fact in a world clouded by noise, and we’re proud to help its imaginative and prescient,” mentioned Omeed Malik, the agency’s founder.

Prediction markets have lengthy been praised for his or her accuracy in contrast with conventional polling, typically transferring sooner than surveys in capturing shifts in public sentiment.

Polymarket’s buying and selling exercise has already eclipsed sports activities betting giants like FanDuel and DraftKings, indicating its rising affect.

Donald Trump Jr. Expands Crypto Footprint With Thumzup Stake, American Bitcoin, and Telegram Launch

Donald Trump Jr.’s involvement in crypto-linked ventures has been steadily expanding since his $4 million stake in Thumzup Media Corp. in July.

The Los Angeles-based startup, which pays customers for model promotions on Instagram, has confronted steep losses regardless of holding Bitcoin on its steadiness sheet.

Nonetheless, the corporate’s board just lately approved plans to hold as much as $250 million in cryptocurrencies, widening publicity past Bitcoin to belongings like Ether, Solana, XRP, Dogecoin, and USDC.

The Trump household’s crypto ties run deeper by way of Eric Trump’s enterprise, American Bitcoin, which the corporate launched in March and is majority-owned by Hut 8. The agency raised $220 million to fund large-scale mining operations and Bitcoin reserves.

SEC filings present that a part of the elevate was carried out in Bitcoin somewhat than money. American Bitcoin is making ready to record on Nasdaq underneath the ticker ABTC by way of a merger with Gryphon Digital Mining, a deal that would depart the Trump brothers and present shareholders with 98% management.

Enlargement plans are already underway. On August 16, it was reported that American Bitcoin is eyeing acquisitions in Asia, together with a publicly listed firm in Japan, because it seeks to construct company Bitcoin holdings on the size of Michael Saylor’s Technique.

The identical day, Trump Jr. launched a Telegram channel, The DeFiant Ones, as a hub for an upcoming family-backed crypto undertaking. The channel, which shortly gained almost 13,000 subscribers, positioned itself as the only official supply for updates whereas warning followers in opposition to impersonators.

The developments mark a broader push by the Trump household into digital belongings, aligning with President Donald Trump’s latest softening stance on crypto.

The submit Trump Jr. Joins Polymarket Board as 1789 Capital Pours Millions appeared first on Cryptonews.

Similar Posts