Donald Trump Jr. has invested in blockchain-based prediction platform polymarket through its venture company 1789 Capital. As part of the agreement, Trump Jr. The polymarket advisory board, according to a press release.
The investment comes as part of a push in 1789 capital to crypto-related infrastructure and alternative financing tools. According to Axios, 1789 tens of thousands of millions of dollars engaged in the polymemarket and had been in discussions with the company for the past 18 months.
The polyming field, which allows users to focus on the results of real events, such as choices, legal decisions and geopolitical conflicts, has seen sharp growth in user activity. During the last US election cycle alone, the platform has processed more than $ 8 billion in bets. This volume has put it in front of large online sports betting operators such as Fanduel, Draftkings and Betfair in terms of traffic.
The company recently closed a $ 200 million financing round led by Peter Thiels Founder’s findings and pushed its valuation to $ 1 billion.
While the polyming field is currently blocking US-based users from participating in its betting markets due to legislative restrictions, its recent acquisition of derivatives exchange QCEX could change it. QCEX HAS A LICENSE FROM THE US CREATHER FUTURE HANDS MISSION (CFTC)that opens the door to the polyming field to offer legally compatible prediction markets to US users in the future.
Prediction markets – where users put funds on the results of events – have drawn renewed attention for their accuracy and speed compared to traditional polling or punditry. During the course of election or court decisions, these markets often serve as real -time meters of public mood and risk assessment.
The investment is in accordance with 1789 Capital’s declared mission to support technologies that strengthen the “American dynamic” expression, which was increasingly used by conservative venture capital circles to describe a return to domestic innovation and self-sufficiency.
