3 Billion Follow-on Investment in Polymarket, Unveiling 1789Capital Where Trump's Eldest Son Is Involved
1789 Capital, a venture capital fund with Donald Trump Jr. as a partner, plans to invest an additional $3 billion in prediction market platform Polymarket as part of a larger $10 billion funding round. The fund, founded in 2022 by Omeed Malik, Chris Buskirk, and Rebekah Mercer with an anti-ESG, "EIG" (Enterprise, Innovation, Growth) ethos, has seen its assets under management skyrocket from ~$200 million to ~$35 billion within a year, reportedly delivering strong returns. Its portfolio heavily targets defense, aerospace, AI, and "parallel economy" companies like SpaceX, Anduril, and Cerebras. Trump Jr., who joined the fund post the 2024 election, advocated for Polymarket as a tool to bypass traditional media narratives. This investment is seen as part of 1789 Capital's strategy to build an "anti-establishment information ecosystem" linking platforms like X, media like Tucker Carlson's venture, and prediction markets. However, the deep political ties raise concerns about potential market manipulation and regulatory scrutiny. The move signifies prediction markets' evolution from crypto niches to contested alternative financial infrastructure.
marsbit09/01 06:41