Trump Jr. Joins Polymarket Board as Crypto Betting Platform Returns to US

Donald Trump Jr. joined the advisory board of Polymarket, the world’s largest prediction market, as the platform prepares to reenter the American market after a three-year absence.

The announcement came alongside news that 1789 Capital, where Trump Jr. serves as a partner, made a strategic investment in the crypto-based betting platform.

The investment amount remains undisclosed, though sources familiar with the deal told Reuters it reached double-digit millions of dollars. This development marks a significant step for Polymarket as it positions itself to compete in the lucrative US prediction market space.

Platform’s Journey Back to US Markets

Polymarket faced regulatory challenges in 2022 when the Commodity Futures Trading Commission (CFTC) fined the company $1.4 million for operating an unregistered swaps platform. The regulator ordered Polymarket to block American users, forcing the platform to operate only in international markets.

To solve this problem, Polymarket spent $112 million in July 2025 to acquire QCEX, a CFTC-licensed derivatives exchange and clearinghouse. This purchase gave Polymarket the regulatory foundation needed to legally serve US customers again. The timing proved strategic, as QCX received its contract market designation on July 9, just 12 days before the acquisition announcement.

The regulatory path cleared further when both the Department of Justice and CFTC closed their investigations into Polymarket in July 2025 without filing charges. These probes had examined whether the platform continued serving US users despite the 2022 settlement agreement.

Strong Financial Performance Despite US Absence

Polymarket demonstrated impressive growth while blocked from US markets. Users placed approximately $6 billion in predictions during the first half of 2025 alone. The platform gained widespread attention during the 2024 presidential election when betting volumes surged dramatically around political outcomes.

The company recently reached a $1 billion valuation while closing a $200 million funding round led by Peter Thiel’s Founders Fund. This valuation reflects investor confidence in prediction markets as alternative sources for gauging public sentiment on politics, economics, and major events.

1789 Capital’s Conservative Investment Strategy

Trump Jr.’s involvement comes through 1789 Capital, a Palm Beach-based venture capital firm he joined as partner. The firm, founded in 2022 by Omeed Malik and Chris Buskirk, describes itself as funding “the next chapter of American exceptionalism.” It focuses on companies aligned with conservative values and positions itself as an anti-ESG investment firm.

Source: @DonaldJTrumpJr

“Polymarket is the largest prediction market in the world, and the U.S. needs access to this important platform,” Trump Jr. said in a statement. “Polymarket cuts through media spin and so-called ‘expert’ opinion by letting people bet on what they actually believe will happen in the world.”

The firm manages roughly $150 million and has invested in various conservative-leaning companies, including Tucker Carlson’s media venture and prescription startup BlinkRx. Since Trump’s inauguration, 1789 Capital has reportedly raised an additional $500 million and aims to collect $1 billion for its first fund by mid-2025.

Strategic Partnerships and Market Expansion

Polymarket secured a partnership with X (formerly Twitter) to become the platform’s official prediction market partner. This collaboration with Elon Musk’s social media company significantly expands Polymarket’s reach to mainstream audiences beyond cryptocurrency users.

The platform allows users to trade on outcomes of real-world events using cryptocurrency. Market prices reflect collective beliefs about the likelihood of various events occurring. Institutions, individuals, and media organizations increasingly rely on these forecasts to understand public sentiment and future probabilities.

Competitive Landscape and Regulatory Environment

Polymarket’s return sets up direct competition with Kalshi, another CFTC-regulated prediction market that has operated legally in the US market. Kalshi recently won court approval to offer election betting in 2024, giving it a head start in capturing American users.

The regulatory environment has become more favorable under the Trump administration, which has taken a friendlier approach to cryptocurrency companies compared to the previous administration. This shift helped clear the path for Polymarket’s regulated return to American markets.

However, prediction markets still face criticism from some legislators. Senators Elizabeth Warren and Jeff Merkley previously wrote letters calling for bans on election betting, arguing such platforms could degrade public trust in electoral processes.

What This Means for American Bettors

The QCEX acquisition provides Polymarket with the necessary regulatory infrastructure to offer prediction markets to American users through a fully licensed platform. This differentiates the company from traditional gambling sites by focusing on real-world events rather than games of chance.

Users can expect to access markets covering politics, current events, sports, economics, and cultural topics. The platform’s real-time pricing mechanism aims to provide more accurate forecasts than traditional polling or expert predictions by requiring users to put money behind their beliefs.