NEW YORK — Donald Trump Jr. has been appointed to the advisory board of Polymarket, a prediction market platform, following a strategic investment in the company by his venture capital firm, 1789 Capital. The announcement was made Tuesday by Polymarket, which stated that the investment is intended to help the company expand its user base and profile.
“The U.S. needs access to this important platform,” said Donald Trump Jr.
According to a report from Axios, 1789 Capital’s investment is in the “double-digit millions of dollars.” This development follows the recent closure of regulatory investigations by the U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) into Polymarket, as confirmed by a person familiar with the investigations to POLITICO. The company’s CEO, Shayne Coplan, stated that the firm had been “cleared of any wrongdoing.”
Polymarket, which was previously banned from operating in the United States, has been making efforts to re-enter the market. As part of this push, the company acquired a CFTC-regulated derivatives exchange for $112 million, according to a report from The Block. This acquisition provides Polymarket with a clearer pathway for U.S. market entry.
Donald Trump Jr. is also a strategic advisor for Kalshi, a competing U.S.-based prediction market, which has raised questions about a potential conflict of interest, as reported by Front Office Sports. His new role at Polymarket, which is also a paid position, according to Axios, gives him ties to both platforms. In a statement released by Polymarket, Trump Jr. said he looks forward to helping the company “advance its mission of bringing truth and transparency to everyone – including the U.S.”