Donald Trump Jr. has joined the advisory board of Polymarket, a crypto-based prediction market platform. The site allows users to bet on the outcomes of events in politics, sports, and pop culture.
Polymarket also announced that it has secured an investment from venture capital firm 1789 Capital, which counts Trump Jr. as a partner. While the terms of the investment were not disclosed, a source familiar with the matter told Reuters it was in the double-digit millions of dollars.
Prediction markets have gained popularity in recent years, attracting both retail traders and prominent investors. They offer an alternative way to gauge sentiment on various topics by harnessing the collective intelligence of traders who have financial stakes in their predictions. “Polymarket cuts through media spin and so-called ‘expert’ opinion by letting people bet on what they actually believe will happen in the world,” Trump Jr.
said in a statement.
Trump Jr. boosts Polymarket’s expansion
The platform saw a surge in popularity during the 2024 U.S. presidential election, with transactions climbing into the billions.
Founded in 2020 by CEO Shayne Coplan, Polymarket has popularized event derivatives trading on topics ranging from politics to popular culture. The company reported that users placed $6 billion worth of trades in the first half of the year. Some trending markets currently on its platform include “Fed decision in September?” and “Will Trump try to fire Powell in 2025?”
1789 Capital, founded in 2022 by Omeed Malik and Chris Buskirk, describes itself as “funding the next chapter of American exceptionalism.”
The Trump brothers, Eric and Donald, have announced a series of new business ventures over the past year, including advisory roles on corporate boards and investments in various industries such as finance, golf courses, hotels, telecom, and crypto mining.
These ventures, they say, reflect the former president’s policies and agenda. Trump Jr.’s involvement is seen as a significant endorsement for Polymarket, reflecting its continued growth and influence in the financial technology sector. By taking an advisory role, he aims to leverage his business acumen and network to drive the platform’s success.
Polymarket’s CEO welcomed the investment and advisory involvement, noting that Trump Jr.’s experience and insights would be invaluable in enhancing the platform’s capabilities and outreach. This partnership emerges at a pivotal time for Polymarket, which is expanding its user base and exploring new market opportunities. The collaboration is poised to bring a fresh wave of innovation and credibility to the platform as it scales new heights in the evolving landscape of decentralized finance and prediction markets.