Donald Trump Jr. Joins Polymarket’s Advisory Board

Donald Trump Jr. is joining Polymarket’s advisory board, as announced in a press release on Tuesday. Polymarket also revealed that 1789 Capital, where Trump Jr. is a partner, has invested in the New York-based firm.

The deal, first reported by Axios, was delayed until Polymarket had a clear path to reentering the U.S. Discussions between the two companies’ executives began about 18 months ago, according to a source familiar with the situation.

The investment, made on undisclosed terms, follows Polymarket’s acquisition of QCEX. Last month, Polymarket signaled its intention to return to the U.S. after acquiring the lesser-known derivatives exchange and its clearinghouse for $122 million.

In a statement, Trump Jr. called Polymarket an “important platform” that Americans need access to, stating it helps people navigate media and political bias.

Since January, Trump Jr. has also been advising prediction market rival Kalshi, assisting with partnerships and market strategy to expand its reach.

Despite pollsters viewing last year’s presidential election as a tossup, Polymarket leaned toward then-President Donald Trump in the race’s final months and predicted Joe Biden’s withdrawal from the Democratic ticket.

However, Polymarket has seen a drop in activity recently, even though it recorded $1 billion in trading volume in July, with around 285,000 active traders.

1789 Capital claims to be “funding the next chapter of American exceptionalism” and has made investments in companies like SpaceX, according to PitchBook.

Elon Musk’s companies have moved closer to Polymarket, including a partnership with X (formerly Twitter), making Polymarket X’s official platform and releasing a tool for analyzing market-moving news in real-time.

Authorities began investigating Polymarket last year for allegedly allowing U.S. users, but those cases have been dropped. Since 2022, the company has agreed to block U.S. users following a settlement with the Commodity Futures Trading Commission for not registering with the regulator.