According to The Wall Street Journal, citing unnamed sources, the prediction market Polymarket has secured $300 million from 1789 Capital as part of a new funding round totaling approximately $1 billion. 1789 Capital, an investment fund in which Donald Trump Jr. is a partner, had previously invested $200 million in the platform. The firm is known for funding other controversial tech-related projects, such as the Enhanced Games, dubbed the “steroid Olympics,” founded by former tech industry veterans [1].

The article highlights the regulatory challenges facing prediction markets, with at least 20 states involved in litigation against such sites over sports wagers. While the federal government, particularly the Trump administration, has advocated for the Commodity Futures Trading Commission (CFTC) as the sole regulator of the industry, a coalition of 44 state attorneys general recently argued that the CFTC lacks the authority to regulate sports-related wagers on prediction sites. Donald Trump Jr. reportedly described the prediction industry as having “robust oversight” and characterized prediction sites as tools “overseen by federal officials, not state attorneys general” at a recent event with conservative state attorneys general [1].

[1] TechCrunch. (2026, August 31). Polymarket reportedly raises $300 million from Donald Trump Jr.’s investment fund. https://techcrunch.com/2026/08/31/polymarket-reportedly-raises-300-million-from-donald-trump-jr-s-investment-fund/

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