Donald Trump Jr joins Polymarket advisory board after his VC firm makes strategic investment

Donald Trump Jr. joined Polymarket’s advisory committee arsenic his task superior steadfast 1789 Capital made a strategical concern successful the prediction marketplace platform, according to an Aug. 26 announcement.

Polymarket did not disclose the fiscal presumption of the concern from 1789 Capital, which describes itself arsenic dedicated to backing American exceptionalism.

The announcement stated that the concern adds governmental and concern expertise to Polymarket’s enactment arsenic the institution prepares for expanded US operations.

Trump Jr. said:

“Polymarket cuts done media rotation and alleged ‘expert’ sentiment by letting radical stake connected what they really judge volition hap successful the world. I americium pleased that 1789 Capital is investing successful Polymarket and americium honored to articulation the company’s advisory board.”

Shayne Coplan, Polymarket’s laminitis and CEO, characterized the 1789 Capital concern arsenic reinforcing the company’s relation arsenic a trusted accusation source.

A prediction market, specified arsenic Polymarket, enables users to spot bets connected outcomes ranging from governmental elections to taste events, generating market-driven predictions.

“This strategical concern marks a milestone for Polymarket. Our semipermanent concern with 1789 Capital volition assistance reenforce Polymarket’s starring presumption arsenic a trusted root of free, transparent and close marketplace accusation successful the US and astir the world.”

Strategic concern timing

The concern comes arsenic Polymarket positions itself for a instrumentality to the US market. The institution completed a $112 cardinal acquisition of QCEX, a CFTC-licensed speech and clearinghouse, creating a regulatory infrastructure for its American operations.

Polymarket besides secured concern presumption with X arsenic the societal media platform’s official prediction marketplace partner.

Omeed Malik, laminitis of 1789 Capital, praised Polymarket’s intersection of fiscal innovation and escaped expression.

The steadfast targets companies that show entrepreneurial tone and maturation potential, a criterion that Malik said Polymarket meets done its real-time accusation transportation model.

Data from a Dune dashboard by idiosyncratic rchen8 shows Polymarket crossed $7.8 billion successful year-to-date trading volume, conscionable astir $600 cardinal shy of past year’s full volume.

The company’s maturation trajectory and caller regulatory preparations presumption it for broader adoption successful the US, and the assignment of Trump Jr. adds to Polymarket’s enlargement strategy.

The station Donald Trump Jr joins Polymarket advisory committee aft his VC steadfast makes strategical investment appeared archetypal connected CryptoSlate.