1confirmation partner Nick Tomaino discloses firm backed every Polymarket round
Nick Tomaino, partner at venture firm 1confirmation, disclosed that the fund has invested in every Polymarket financing round. Tomaino defended Polymarket's token against claims it is 'dead,' calling such speculation 'foolish.' The firm typically focuses on seed-stage deals and avoids later rounds, making its continued backing of the CFTC-regulated prediction market platform unusual. 1confirmation said it would increase its investment in Polymarket going forward.
Institutional investors who treat prediction markets as infrastructure, not speculation, gain a public advocate in Tomaino. His framing of information discovery as the core value proposition gives Polymarket a narrative weapon as it competes with Kalshi for mainstream legitimacy. Every round 1confirmation joins signals to later-stage funds that a crypto-native venture firm sees durable value, even amid token-price volatility.
That social proof matters for Polymarket's next raise and for founder confidence. Competitors without comparable venture backing must lean harder on revenue or league partnerships to prove staying power. The disclosure also tightens 1confirmation's identity to Polymarket's success, concentrating risk for both.
Polymarket joins Kalshi in securing visible institutional backing this week, as both platforms race to define the regulated prediction-market category for venture capital.