Polymarket is in talks to raise $1 billion from 1789 Capital, the fund co-founded by Donald Trump Jr., at a valuation exceeding $20 billion. The prediction markets platform, valued at roughly $300 million just over a year ago, has experienced a meteoric rise. The Intercontinental Exchange, owner of the New York Stock Exchange, has invested approximately $1.6 billion in the company, pushing its valuation from $8-9 billion to $20 billion. Total disclosed funding now exceeds $2.7 billion, placing Polymarket within $1 billion of its primary competitor Kalshi, which raised $1 billion at a $22 billion valuation in May 2026.
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