Bloomberg Technology reports that venture capital firm 1789 Capital is leading a new funding round for Polymarket that would give the prediction-markets platform a $21 billion post-money valuation. A separate Techmeme item summarizing Bloomberg’s Amanda L. Gordon says the company will raise $1 billion in the round. That item also says Donald Trump Jr. is a partner at 1789 Capital and an adviser to Polymarket. The provided Bloomberg Technology segment does not add further terms, timing or investor details beyond 1789 Capital’s lead role and the $21 billion post-money valuation. It frames the deal as a financing for a prediction-markets platform. The headline number is the story, but the available material leaves key questions open, including the full investor syndicate, whether the reported $1 billion amount is finalized, and what terms attach to the financing. Who benefits: If completed as reported, Polymarket would receive financing led by 1789 Capital. 1789 Capital would lead the reported round. Who's exposed: Too early to tell from the provided reports. They do not detail deal terms, other investors or effects on competitors.