HedgeCo.Net — 1789 Capital is leading a new Polymarket financing that would value the prediction-markets platform at about $21 billion post-money, according to people familiar with the matter and a firm spokesperson. Bloomberg’s August 31 report is the primary people-familiar print. The Business Times independently printed the same $21 billion valuation, the same planned $1 billion raise including about $300 million from 1789, and prior 1789 investment of about $200 million, citing spokesperson Alexa Henning.
Bloomberg reported Polymarket will raise $1 billion with 1789 contributing around $300 million, and noted earlier talks at a valuation of more than $20 billion. Business Times added that the platform is currently valued at about $15 billion and that 1789 now oversees more than $3 billion of AUM, up from a few hundred million two years ago. A Polymarket spokesperson declined to comment to Bloomberg. The round is in process: neither source treats the $1 billion as closed capital.
Donald Trump Jr. is a partner at 1789 and an adviser to Polymarket; he also advises rival Kalshi. Separately reported April financing at about $15 billion and ICE’s earlier stake are not this round—do not merge them into a closed syndicate list. Mark the story as a lead-and-raise in progress, not a completed close.
This is not a closed financing. Mark ~$1 billion planned, ~$300 million from 1789, ~$21 billion post-money, and prior ~$200 million / ~$15 billion current valuation as attributed figures. Do not invent other syndicate names or a signed definitive agreement. The allocator object is a politically adjacent growth check into prediction markets while the primary round remains unfinished.