Donald Trump Jr exits as paid adviser for prediction market Kalshi
Donald Trump Jr has stepped down as a paid adviser for prediction market company Kalshi, following his investment firm's increased stake in Kalshi's biggest competitor Polymarket.
The prediction market company announced the departure on Thursday, describing it as a mutual business decision. The move follows 1789 Capital's decision to increase its investment in Polymarket, Kalshi's biggest competitor. The announcement comes one week after Democrats gained control of both the House and Senate in the midterm elections, with party members indicating plans to investigate the Trump family's business relationships, including those with prediction markets.
Investment details
Trump Jr became a paid "strategic adviser" for Kalshi shortly after his father was sworn into office for his second term in January 2025. However, he has been an investor in Polymarket since August 2025. Both companies have seen their popularity surge significantly over the past two years and have received favorable treatment from the White House, with the Commodity Futures Trading Commission backing efforts to expand their products nationwide.
Regulatory scrutiny
Both Kalshi and Polymarket have denied that their financial relationships with the Trump family influenced regulatory decisions under the current administration. The conversation about ending Trump Jr's advisory role with Kalshi began after 1789 Capital increased its investment in Polymarket during the company's latest fundraising round this past August. With Democrats now controlling Congress, these prediction markets and their connections to the Trump family face increased scrutiny.
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