Kalshi Drops Trump Jr. as Adviser Days After Senators Flagged His Ties
Kalshi has terminated Donald Trump Jr.'s adviser contract, two days after US senators flagged his financial ties to prediction markets.
The decision came without explanation from Kalshi, a US-regulated platform where people trade on real-world outcomes. Trump Jr. had received about $300,000 in shares when Kalshi was valued under $2 billion, though the company has since been valued at up to $22 billion with talks near $40 billion.
Senator Concerns
On November 10, Senators Elizabeth Warren and Jeff Merkley questioned the White House about a former staffer's Kalshi bets. They specifically raised concerns about Trump Jr.'s advisory roles and financial interests in prediction markets, writing that it 'raises questions about the need for strong ethics safeguards and confidence in impartial federal oversight.'
Donald Trump Jr. has held advisory roles and financial interests connected to prediction-market platforms, raising questions about the need for strong ethics safeguards and confidence in impartial federal oversight.
Regulatory Context
In August, the Commodity Futures Trading Commission fined Gabriel Perez $172,000 for trading on Trump's speech wording before delivery, with Kalshi assisting the probe. The FT reported Kalshi has received light regulatory touch under Trump appointees, with the CFTC dropping its appeal against Kalshi's election contracts in May 2025.
Future Role
Trump Jr. still advises Polymarket, Kalshi's main rival, having joined its advisory board in August 2025 when his firm 1789 Capital invested. He previously praised Kalshi's 2024 election-night call, noting his family used it to know they won 'hours ahead of the fake news media.' The senators have requested White House responses by November 23.
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