Trump Jr. exits advisory role at Kalshi after his firm increased investment in rival Polymarket
Donald Trump Jr. is no longer a paid adviser for Kalshi, the prediction market company said on Thursday. The company, reporting from New York, described the decision as a mutual business decision between the two parties.
Kalshi said the decision followed a decision by Trump Jr.'s investment firm, 1789 Capital, to increase its investment in Kalshi's biggest competitor, Polymarket. 1789 Capital increased its investment in Polymarket this past August, as part of Polymarket's latest fundraising round.
Kalshi spokesperson Dani Lever said: '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.'
The president's eldest son became a paid 'strategic adviser' for Kalshi shortly after President Trump was sworn into office for his second term in January 2025. He has been an investor in Polymarket since August 2025. Both companies have seen their popularity and use jump significantly in the past two years.
The announcement comes a week after Democrats were able to take control of both the House and Senate in the midterm elections. Democrats have said they planned to investigate the Trump family's investments, including their business relationships with both prediction markets.
At the same time, both companies have received favourable treatment from the White House. The Commodity Futures Trading Commission has backed the industry's efforts to expand their products nationwide, including allowing their customers to trade sports-related contracts.
Both companies have adamantly denied that the financial relationship between Polymarket, Kalshi and the Trumps played any role in how the industry has been regulated under this administration.
According to Kalshi, it was the August investment in Polymarket that started the conversation about ending Trump Jr.'s advisory role with Kalshi.
