Kalshi ends Donald Trump Jr.’s advisory contract over 1789 Capital’s Polymarket investment
Kalshi has terminated its advisory contract with Donald Trump Jr. after learning that his venture capital firm, 1789 Capital, had made a significant investment in rival prediction market Polymarket.
The decision to end Trump Jr.'s advisory role was mutual, with discussions beginning in August after 1789 Capital's investment in Polymarket was revealed. Trump Jr. joined Kalshi as a strategic adviser in January 2025 and received an equity stake reportedly worth approximately $300,000.
Competing Platforms
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.
Political Response
Democratic lawmakers have recently taken aim at prediction markets following a massive midterm election victory. Senator Catherine Cortez Masto stated that 'the Trump family is heavily invested in prediction market platforms,' while Representative Ro Khanna called for a ban on these products.
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