According to a recent revelation, Donald Trump Jr. is investing an unspecified amount in the crypto prediction market platform, Polymarket. If this connection deepens, it could allow U.S. users to openly access the platform in the future.
Don Junior has also invested in Kalshi, joining the company as Strategic Advisor in January. By investing in both rival companies, he demonstrates a clear interest in the market sector.
Trump family bets on the prediction market
Trump's crypto empire is a family business, with both sons and other figures investing in a range of crypto, Web3, and related ventures. Donald Trump Jr., commonly referred to as 'Don Junior,' is particularly involved with WLFI and crypto mining, and is expanding this with a significant investment in Polymarket.
According to a report by Axios, Trump Jr. is investing 'tens of millions' in Polymarket, although the exact size of the investment is uncertain. The online prediction market has had a successful run since the DOJ closed its investigation last month. This was part of Trump's campaign against the enforcement of crypto regulations.
Since then, the platform has suggested several new expansions, even proposing to launch its own stablecoin. Polymarket could gain a wide range of new opportunities by partnering with the Trump family.
Currently, Americans are locked out of the platform, but high-level political ties could change that.
Conflict of interest?
Polymarket and the Trump family have had some months of mutual interest, after the platform correctly predicted Trump's victory in the 2024 election.
However, the family's involvement with prediction markets could be a double-edged sword in this case. Specifically, Don Junior has been a strategic advisor to Kalshi, Polymarket's main competitor, for months:
'We are extremely excited to announce that Donald Trump Jr. has joined Kalshi as a Strategic Advisor. With his vast business experience and influence, Don Junior brings a new perspective to Kalshi as we continue to take prediction markets mainstream,' the platform wrote in January.
Currently, it is unclear whether Don Junior's investment signals a deeper connection between the Trump family and Polymarket. He may not even join the team in an advisory or ceremonial capacity.
After all, Polymarket has a high valuation, so 'tens of millions' may not necessarily be a large commitment for the company.
Still, one thing is clear: Don Junior is highly interested in prediction markets. These connections could help Polymarket make significant regulatory advances under the Trump administration.
The article 'Donald Trump Jr. significantly invests in Polymarket' was first seen on BeInCrypto Brazil.
