Trump Jr.'s 1789 Capital invests $300M in Polymarket while maintaining Kalshi ties
Donald Trump Jr. is investing $300 million in Polymarket through 1789 Capital, his venture firm. The capital injection comes as Polymarket competes with Kalshi for share of the U.S. event-contracts market. Trump Jr. also holds a position in Kalshi, placing him on both sides of the regulated prediction-market rivalry. The Binance.com and Yahoo Finance reports name the $300 million figure and 1789 Capital as the investment vehicle. Polymarket is CFTC-regulated and crypto-native.
The $300 million injection gives Polymarket capital to outspend Kalshi on expansion while Trump Jr. holds advisory roles with both platforms. For Kalshi, which just raised $1.12 billion of a $1.5 billion equity offering, the news tightens the funding race: two platforms now have formidable war chests and shared political ties. ICE already holds a $1.6 billion stake in Polymarket, giving it governance leverage that Kalshi lacks.
The dual Trump Jr. role creates a conflict regulators have not addressed. Kalshi gains no comparable partisan shielding, leaving it exposed to state litigation that halted its MLB trading in Washington. The first Republican AG to shift enforcement posture after this investment will signal whether Trump Jr.'s dual influence carries weight.