The companies did not confirm the terms of the deal, which will see Trump Jr. join Polymarket’s advisory board, but Axios reported the investment is in the “double-digit millions of dollars.” Polymarket, which runs a crypto-based website that lets people bet on the outcome of events such as elections and sports games, plans to use the money to grow its user base and profile. (The Logic, Axios)
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The companies did not confirm the terms of the deal, which will see Trump Jr. join Polymarket’s advisory board, but Axios reported the investment is in the “double-digit millions of dollars.” Polymarket, which runs a crypto-based website that lets people bet on the outcome of events such as elections and sports games, plans to use the money to grow its user base and profile. (The Logic, Axios)
Talking point: The reversal of the crypto industry’s fortunes under President Donald Trump’s administration continues. U.S. regulators reportedly shut down investigations last month into whether Polymarket violated an agreement to stop accepting trades from American users during the 2024 presidential election campaign, when its popularity surged. The firm is now seeking to re-enter the U.S. after buying licensed exchange and clearinghouse QCEX for US$112 million last month. Polymarket banned Ontario residents from its platform in April as part of a settlement agreement with the province’s securities regulator.
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