Polymarket Raises $1 Billion In Latest Funding Round

Privately held prediction market Polymarket has raised $1 billion U.S. in its latest funding round.

The funding round valued Polymarket at $21 billion U.S. and was led by Donald Trump Jr.'s venture capital firm 1789 Capital. Don Jr. is U.S. President Donald Trump’s son.

Don Jr.’s firm contributed $300 million U.S. to the latest funding round on top of $200 million U.S. it had previously invested in Polymarket.

The new valuation is a 40% increase from the $15 billion U.S. that Polymarket was valued at during a funding round earlier this year.

Polymarket and its archrival Kalshi let users bet on the outcomes of real-world events such as sports and political elections.

The Trump family's stake in the sector has grown considerably over the past year. In addition to investing in Polymarket, Don Jr. is an adviser and investor in Kalshi.

The Trump administration has taken a favourable view of prediction markets.

Under President Trump, the Commodity Futures Trading Commission (CFTC), which regulates prediction markets, has praised the companies and sued U.S. states attempting to regulate them.

Polymarket and Kalshi are each privately held and their stocks do not trade on public exchanges.