Donald Trump Jr exits Kalshi advisor role over Polymarket investment

Summarised from 6 outlets · Updated 13 Nov, 19:58 · Archive

Kalshi has ended its advisory contract with Donald Trump Jr after his venture capital firm invested heavily in rival prediction market Polymarket.

Kalshi announced on Thursday that Donald Trump Jr would no longer serve as a paid adviser to the prediction market platform. Both parties described the split as a mutual commercial decision made after Trump Jr's investment firm, 1789 Capital, significantly increased its stake in rival platform Polymarket.

Trump Jr became a strategic adviser to Kalshi in January 2025 shortly after President Trump was sworn in for his second term. At that time, he received an equity stake in Kalshi valued at $300,000. In August, 1789 Capital invested $300 million in Polymarket as part of the competitor's funding round. Conversations about ending the advisory arrangement began that same month after the Polymarket investment was announced.

Kalshi's spokesperson said the company was grateful for Trump Jr's contributions in helping to market Kalshi to more customers. Trump Jr continues to serve as an adviser to Polymarket through his role at 1789 Capital.

The timing of the announcement is significant. It comes one week after Democrats secured majorities in both the House and Senate following the midterm elections. Democrats have stated they plan to investigate the Trump family's investments, with specific focus on their business relationships with prediction market platforms.

Prediction markets gained prominence during the 2024 presidential election, with platforms including Kalshi and Polymarket gaining popularity for their forecasts. Both companies have benefited from favourable regulatory treatment under the Trump administration. The Commodity Futures Trading Commission has backed the industry's efforts to expand their products nationwide, including sports-related trading contracts. Both Kalshi and Polymarket have denied that their financial relationships with the Trump family influenced regulatory oversight.

Kalshi is reportedly in talks to raise funds at a valuation of up to $65 billion, while Polymarket is aiming for a valuation above $20 billion. Trump Jr's ties to both platforms through his investments and advisory roles could make prediction markets an easy target for lawmakers seeking to scrutinise the industry.

How it is being reported

• Trump Jr. out as Kalshi advisor after his firm's big investment in PolymarketTrump son advised Kalshi and got equity while Trump admin helped Kalshi in lawsuits.Ars Technica · 13 Nov, 19:49
• Kalshi cuts ties to Donald Trump Jr after Democrats’ midterm sweepPrediction market platform ends advisory deal amid mounting political scrutiny and rival investments in PolymarketFinancial Times · 12 Nov, 22:45
• Donald Trump Jr exits as paid adviser for prediction market KalshiKalshi announces ‘mutual decision’ after Trump Jr’s investment firm increases stake in rival Polymarket Donald Trump Jr is no longer a paid adviser for Kalshi, the prediction market company said Thursday. Kalshi described it as a mutual business decision between the two parties that followed a decision by Trump Jr’s investment firm, 1789 Capital, to increase its investment in Kalshi’s biggest competitor Polymarket. Continue reading...Guardian World · 12 Nov, 22:37
• Donald Trump Jr. exits Kalshi adviser role after firm invests in competitor PolymarketThe president's eldest son stepped into his role as a paid ‘strategic adviser’ for Kalshi shortly after Trump was sworn into office for his second term in January 2025Independent World · 12 Nov, 22:32
• Kalshi says it’s cutting ties with Donald Trump Jr. over his firm’s big investment in rival PolymarketReuters reported that the $40 billion startup mutually agreed to end its advisory contract with the president's son.New York Post · 12 Nov, 20:03
• Donald Trump Jr. exits advisory role at Kalshi prediction marketThe president's son will no longer serve as an advisor at Kalshi.CNBC · 12 Nov, 19:19

In this story: Donald Trump Jr · Kalshi · Polymarket · 1789 Capital · Democrats · Commodity Futures Trading Commission

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log