1789 Capital, a venture capital fund co-founded by Donald Trump's son, is leading a funding round of approximately $1 billion for prediction market platform Polymarket, with the fund contributing around $300 million, The Wall Street Journal reported on August 31, citing sources familiar with the matter. This round values Polymarket at approximately $21 billion, and with additional investment, 1789 Capital will become one of the platform's largest shareholders. Currently, Intercontinental Exchange is Polymarket's largest shareholder. Following this news, attention has once again focused on the close relationship between prediction market platforms and Donald Trump's political circle. Polymarket and its competitor Kalshi are facing legal challenges from multiple state regulators and have drawn investigative attention from congressional Democrats. 1789 Capital's legal counsel has refuted all allegations of conflicts of interest.