Don Jr. Faces Bombshell Probe Into ‘Almost Clairvoyant’ Bets

Anadolu / Anadolu via Getty Images House Democrats are opening a new investigation into Donald Trump Jr. and the venture capital firm he joined shortly after his father returned to the White House.

In a letter obtained by MS NOW , Rep.

Jamie Raskin, the top Democrat on the House Judiciary Committee, questions whether the lucrative bets made by 1789 Capital since January 2025 have been helped by access to the Trump administration.

1789 Capital, which was reportedly worth only a few million dollars when Trump Jr. joined, is now estimated at roughly $3 billion.

In the letter, Raskin points to a series of investments he says have been made with “almost clairvoyant accuracy.” One investment drawing particular scrutiny is Vulcan Elements, a rare-earth magnet producer.

1789 Capital bought an undisclosed stake in 2025, about three months before the Pentagon announced a $620 million loan to the company.

Bloomberg valued the two-year-old startup at about $200 million around the time of the investment.

Following news of the government deal, its estimated value soared to nearly $2 billion.

“This was an amazing turn of events when the Trump Administration decided to pump over half a billion dollars into an unproven start-up company,” Raskin writes.

Trump Jr. has denied having “inside information,” previously telling The New York Times that he and 1789 Capital president Omeed Malik simply made a “reasonable assumption” that Vulcan would succeed.

“It’s not like it takes a genius to figure this out,” Trump Jr. told The New York Times.

Raskin is also seeking information about the firm’s investments in Juul, Polymarket and defense contractor Anduril Industries.

Reuters reported that 1789 invested in e-cigarette company Juul in March 2025, before the FDA later reversed a ban on certain e-cigarette products.

Raskin argues the pattern warrants deeper scrutiny.