Overview

• Polymarket said 1789 Capital made a strategic investment, with a person familiar saying the amount was in the double‑digit millions of dollars.
• Donald Trump Jr., a partner at 1789 Capital, was appointed to Polymarket’s advisory board.
• Polymarket is building a path back to the U.S. by acquiring CFTC‑licensed QCEX for about $112 million to provide exchange and clearing capabilities.
• Reports indicate the DOJ and CFTC closed investigations into Polymarket in mid‑2025, following earlier actions that led the platform to block U.S. users.
• Trump Jr. also advises rival Kalshi, creating overlapping roles as prediction‑market companies compete for regulated U.S. business.