Kalshi ends Donald Trump Jr.’s advisory contract over 1789 Capital’s Polymarket investment
Prediction market platform Kalshi has terminated Donald Trump Jr.'s advisory contract following his firm's investment in rival platform Polymarket. The move highlights the competitive nature of the prediction market industry and potential conflicts of interest regarding business affiliations.
Why it matters
This development underscores the growing regulatory and competitive scrutiny surrounding the prediction market industry as it gains mainstream financial and political influence.
Trump Jr. joined the prediction markets platform as a strategic adviser in January 2025 at a time when prediction markets gained prominence in the United States, particularly following the 2024 presidential election when Donald Trump won reelection.
A Kalshi spokesperson confirmed the termination in a statement to Reuters.
"We have mutually agreed to end Don's advisory role after his firm's significant investment in a competitor this past summer. We are grateful for his contributions in helping us market Kalshi to more customers," a spokesperson for Kalshi told Reuters. The decision was mutual and was spurred in August after 1789 led Polymarket's most recent funding round, the spokesperson said.
Polymarket and Kalshi are two of the largest players in the rapidly expanding prediction market industry. Both platforms allow users to trade contracts based on the outcomes of real-world events, including elections, economic developments, sports and political decisions.
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