Donald Trump Jr. Enters Polymarket After Investing in Cryptocurrency Prediction Platform

Donald Trump Jr. has joined Polymarket’s advisory board, as stated in a press release on Tuesday, where it was revealed that 1789 Capital, where the eldest son of the U.S. president is a partner, has invested in the New York-based firm.

The deal, initially reported by Axios, faced delays until Polymarket confirmed a viable path for reentering the U.S., with discussions between the companies’ executives reportedly starting about 18 months ago, according to an unnamed source familiar with the matter. 

The investment, under undisclosed terms, follows Polymarket’s acquisition of QCEX. The prediction market indicated last month that it was looking to return to the U.S. after acquiring the lesser-known derivatives exchange and its clearinghouse for $122 million.

In a statement, Trump Jr. referred to Polymarket as an “essential platform” that Americans should have access to, emphasizing its role in helping people navigate media and political narratives. 

Trump Jr. has been advising prediction market competitor Kalshi since January, aimed at enhancing its partnerships and market strategies for expansion.

Although last year’s presidential election was considered competitive by pollsters, Polymarket leaned towards U.S. President Donald Trump in the final months of the campaign. It also anticipated then-President Joe Biden’s withdrawal from the Democratic lead.

Recent activity on Polymarket has slowed, yet the platform recorded $1 billion in trading volume in July, according to a Dune dashboard, with approximately 285,000 active traders during the same timeframe.

1789 Capital describes itself as “funding the next chapter of American exceptionalism” on its website, having invested in firms like SpaceX, as reported by PitchBook.

Some of tech CEO Elon Musk’s companies have started to develop closer ties with Polymarket, including X, as the billionaire’s social media platform moves closer to becoming an “everything app.”

In June, X established a partnership with Polymarket, making the prediction market its official platform and launching a tool for analyzing market-moving news in real-time.

Regulatory scrutiny of Polymarket arose last year due to allegations of allowing Americans to access its services, but those investigations have since been dropped. Since 2022, the company has agreed to block U.S. users following a settlement with the Commodity Futures Trading Commission for not registering with the agency.