White House and Trump Administration
Investment activity linked to the Trump administration suggests receptiveness to major crypto ventures. 1789 Capital, a firm associated with Donald Trump Jr., is reportedly leading a $1 billion funding round for Polymarket at a $21 billion valuation, with the fund committing approximately $300 million to the prediction market platform.
The Trump administration is actively pushing for the onshore relocation of crypto derivatives platforms, according to reporting on Hyperliquid. This effort reflects a stated policy objective to bring cryptocurrency trading infrastructure within U.S. regulatory jurisdiction, though the initiative faces complications from illicit activity on such platforms.
Former SEC and CFTC officials are urging the administration to adopt a lighter regulatory touch on crypto perpetuals trading to facilitate onshore migration. These officials argue that an estimated $90 trillion perpetuals market currently operates offshore and that overly burdensome rules risk keeping trading activity outside U.S. oversight.