Polymarket is raising $1 billion in a new funding round led by 1789 Capital that values the prediction-market platform at $21 billion on a post-money basis, according to a Bloomberg report.
The financing represents another substantial increase in Polymarket’s valuation as investor interest in prediction markets continues to accelerate.
Polymarket completed a previous funding round in April at a $15 billion valuation, bringing D.E. Shaw and venture capital firm G Squared into its investor base. The new $21 billion post-money valuation therefore represents a 40% increase from that valuation in only a few months.
1789 Capital has an existing relationship with Polymarket. The investment firm made a strategic investment in the company in 2025, when Donald Trump Jr., a partner at 1789 Capital, also joined Polymarket’s advisory board. Terms of that earlier investment were not publicly disclosed at the time.
The latest financing substantially deepens that relationship. Separate reporting indicates that 1789 Capital is investing approximately $300 million as part of the $1 billion round, following roughly $200 million of previous investment in Polymarket.
Polymarket operates markets that allow participants to trade based on the outcomes of future events spanning politics, sports, economics, culture and other topics.
Prediction markets have attracted growing amounts of institutional capital as their trading volumes, mainstream visibility and potential applications as real-time indicators of market expectations have increased.
The latest financing also highlights the increasingly competitive environment between Polymarket and Kalshi.
Kalshi raised capital at a $22 billion valuation in May, placing the two major prediction-market platforms at comparable private-market valuations. Bloomberg noted that Polymarket has faced operational and legal challenges this year while Kalshi has continued expanding.
Donald Trump Jr. serves as an adviser to both companies, while also working as a partner at 1789 Capital.
Polymarket has simultaneously been increasing its focus on market surveillance and integrity. The company recently appointed former FBI investigator Shana Bautista as its global head of investigations and intelligence and has been using machine learning, blockchain analytics and other tools to identify potentially suspicious activity on its platform.
The company has also been rebuilding its position in the U.S. market following the acquisition of a federally regulated exchange, giving it a pathway to operate domestically after previously restricting U.S. users.
At $21 billion, the latest valuation places Polymarket among the world’s most highly valued private fintech and crypto-related companies and underscores how quickly prediction markets have moved from a relatively niche trading category into a heavily funded financial technology sector.
The $1 billion capital raise also gives Polymarket additional resources as it competes with Kalshi, develops its U.S. business and expands the technology, liquidity and infrastructure supporting its global prediction-market platform.
