Updated
Updated · The New York Times · Jul 22
1789 Capital Backs Polymarket at $15 Billion After Investing at $300 Million
Updated
Updated · The New York Times · Jul 22

1789 Capital Backs Polymarket at $15 Billion After Investing at $300 Million

1 articles · Updated · The New York Times · Jul 22

Summary

  • $15 billion is Polymarket’s latest valuation, up from $300 million when Donald Trump Jr. and Omeed Malik’s 1789 Capital invested in the prediction-market platform.
  • That gain followed a July 2024 meeting between Trump Jr. and founder Shayne Coplan and came after a federal regulator last year granted Polymarket a U.S. operating license.
  • 1789’s stake highlights how Trump Jr. and Malik have profited from businesses whose fortunes can be shaped by President Trump’s policies, despite long-running criticism of mixing family business and politics.
  • Trump Jr. told the New York Times he and Coplan shared a defiant approach toward critics, underscoring how openly 1789 is pursuing politically adjacent investments during Trump’s second term.

Insights

Is Polymarket’s $15 billion valuation a product of innovation or a bubble inflated by its powerful political connections?
With federal approval, how can prediction markets be shielded from insider trading on sensitive government and military events?
When a betting platform becomes a key data source, can its information be trusted if it profits from policy?