Donald Trump Jr has deepened his presence in the crypto-linked prediction market sector with an investment in Polymarket, following his earlier advisory role with rival platform Kalshi.
The move highlights the growing ties between the Trump family and prediction markets, with both political and financial implications.
1789 Capital, the investment firm that Donald Trump Jr joined as a partner last year after his father’s re-election as US president, has invested “double-digit” millions of dollars into Polymarket, according to Axios.
As part of the deal, Trump Jr will also take a seat on the prediction market platform’s advisory board.
This development comes as the platform gains traction following the end of a US Department of Justice probe in July, which had previously cast uncertainty over its operations.
Trump Jr backs Polymarket with multimillion-dollar investment
Trump Jr’s investment in Polymarket signals a significant bet on the future of online prediction markets.
The timing is notable, as the platform has seen increased momentum since the Department of Justice closed its investigation last month.
Polymarket, which currently blocks American users from accessing its services, is exploring new avenues of expansion, including plans to launch its own stablecoin.
Polymarket became a prominent name after accurately predicting Donald Trump’s presidential victory in 2024.
The company has since drawn fresh attention by capitalising on political events and regulatory shifts, which could prove crucial as it seeks to legitimise its business in the US.
Previous Kalshi role raises competition questions
The latest development comes just months after Trump Jr joined Kalshi, Polymarket’s direct competitor, as a strategic advisor in January.
At the time, Kalshi said Trump Jr would bring his business experience and political influence to help mainstream prediction markets.
His investment in Polymarket now raises questions over competing interests, as he has positioned himself within both of the most prominent players in the space.
Kalshi and Polymarket differ in approach but operate within the same prediction market sector.
Kalshi has focused on regulatory approvals to offer event contracts legally in the US, while Polymarket has leaned on blockchain-based models to expand globally.
Trump family’s role in crypto expands
This is not Trump Jr’s first foray into crypto-related ventures.
He has been linked with projects such as World Liberty Financial (WLFI) and crypto mining, alongside his brothers.
The Polymarket investment further cements the Trump family’s involvement in digital finance.
Although the size of Polymarket’s valuation means “double-digit millions” may not amount to a controlling stake, Trump Jr’s participation is seen as significant given his family’s political clout.
With Americans still blocked from using the service, Polymarket’s ties to the Trump family could potentially open doors to regulatory discussions in Washington.
The overlap between politics, crypto, and financial innovation is expected to grow under the current administration.
As Polymarket looks to expand, its partnership with figures linked to the Trump family could provide it with a strategic edge in navigating the US regulatory environment.
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