Donald Trump Jr. has invested in the Blockchain Polymket prediction platform through his risk firm 1789 Capital. As part of the agreement, Trump Jr. will join the Polymarket Advisory Board, according to a press release.
The investment occurs as part of an impulse of 1789 capital in infrastructure related to crypto and alternative financial tools. According to Axios, 1789 committed dozens of millions of dollars to Polymarket and had been in conversations with the company during the last 18 months.
Polymarket, which allows users to bet on the results of real world events, such as elections, judicial decisions and geopolitical conflicts, has seen a strong growth in user activity. Only during the last electoral cycle of the United States, the platform has processed more than $ 8 billion in bets. That volume has put it ahead of the main online sports betting operators such as Fanduel, Draftkings and Betfair in terms of traffic.
The company recently closed a financing round of $ 200 million led by the founder of founders of Peter Thiel, which takes its valuation to $ 1 billion.
While Polymarket currently prevents users based in the USA. Qcex has a license from the Trade Commission of Futures of Basic Products of the United States. (CFTC)that opens the door for Polymket to offer prediction markets legally compatible to US users in the future.
Prediction markets, where users contain funds on the results of the events, have drawn attention renewed for their precision and speed compared to traditional surveys or experts. In the period prior to judicial elections or decisions, these markets often serve as real -time indicators of public feelings and risk assessment.
The investment is aligned with the established mission of 1789 capital to support technologies that reinforce “American dynamism”, an increasingly used term by conservative circles of risk capital to describe a return to national innovation and self -sufficiency.
