(Reuters) -Polymarket said on Tuesday Donald Trump Jr., son of the U.S. president, has joined its advisory board, and that 1789 Capital has made a strategic investment in the prediction market.

Prediction markets have gained traction in recent years, drawing both retail traders and prominent investors who see them as an alternative way to gauge sentiment on politics, economics and global events.

Proponents of prediction markets argue event derivatives offer a more accurate way to forecast real-world outcomes by harnessing the collective intelligence of traders with financial stakes in their predictions.

“Polymarket cuts through media spin and so-called ‘expert’ opinion by letting people bet on what they actually believe will happen in the world,” Trump Jr said in a statement.

The contr

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