Polymarket raises $300 million from Donald Trump Jr.'s investment fund

Prediction market Polymarket has raised $300 million from 1789 Capital — an investment fund in which Donald Trump Jr. is a partner — as part of a funding round totalling around $1 billion, per The Wall Street Journal. 1789 Capital had previously invested $200 million in Polymarket. The raise comes as prediction markets face litigation in at least 20 states over sports wagers.

Donald Trump Jr. described the prediction industry as already having 'robust oversight' and characterized prediction sites as a tool 'overseen by federal officials, not state attorneys general.'