Polymarket in talks for $1B raise at $21B valuation

Polymarket, the prediction market platform, is in advanced talks to raise $1 billion in a new funding round that would value the company at $21 billion, according to people familiar with the matter. The round is being led by 1789 Capital, the venture capital firm where Donald Trump Jr. is a partner, which plans to contribute approximately $300 million. The financing would mark a significant increase from Polymarket's previous valuation of around $15 billion, set during a round completed in April 2026. The proposed investment would bring 1789 Capital's total commitment to Polymarket to roughly $500 million, following an earlier investment of about $200 million.