⚡Funding Brief⚡ According to Bloomberg, prediction market platform Polymarket is in talks for a new funding round of roughly $1 billion, led by 1789 Capital; if completed, the deal would value the company at $21 billion post-money. A spokesperson for 1789 Capital said the firm plans to invest roughly $300 million in this round; Polymarket declined to comment on the reported financing. 1789 Capital reportedly invested about $200 million in Polymarket previously. If the new $300 million investment goes through, the firm's cumulative commitment would reach roughly $500 million. The $21 billion valuation implied by this round represents about a 40% increase from Polymarket's prior valuation benchmark of roughly $15 billion. The deal also highlights the intensifying capital competition in the prediction-markets space. 1789 Capital partner Donald Trump Jr. serves as an adviser to both Polymarket and its rival Kalshi — a dual advisory role Bloomberg specifically flagged in its reporting. Polymarket's valuation story rests not only on trading demand for political, economic, sports, and cultural event contracts, but also on its path to US regulatory compliance. The company previously restricted US users under a 2022 settlement with the Commodity Futures Trading Commission (CFTC); it has since acquired CFTC-regulated entities related to QCEX to pave the way for a return to regulated US operations. Source: Bloomberg Image credits: TechCrunch, Bloomberg