Prediction market platform Polymarket is gearing up to raise $1 billion at a $21 billion valuation in its latest funding round. The round will be led by venture firm 1789 Capital, whose partners include Donald Trump Jr. According to deal details, 1789 Capital previously invested $200 million in Polymarket and is now considering upping its stake by another $300 million.

What We Know About the Round

Polymarket is targeting a $1 billion raise at a $21 billion valuation, with 1789 Capital taking the lead. The numbers on the table: 1789 Capital has already put in $200 million, and is now discussing an additional investment of up to $300 million in this round. The final terms and timeline are still under wraps.

About Polymarket

Polymarket is a prediction market platform where users can bet on the outcome of real-world events using market dynamics. The company is drawing serious venture capital as interest in this kind of trading and expectation aggregation heats up.

Why It Matters for the Industry

Shooting for a $1 billion raise at a $21 billion valuation highlights just how much investor appetite there is for prediction market infrastructure. 1789 Capital’s potential $300 million check signals growing momentum for the sector and shows that funds are ready to back mature, scaling platforms.