Kalshi ends Donald Trump Jr.'s advisory role after investment in competitor

Kalshi, the nation's largest prediction market, has ended its advisory relationship with Donald Trump Jr. following his investment firm's increased stake in Polymarket, Kalshi's main competitor, The New York Times reported.

The decision was mutual, according to a spokesman for Donald Trump Jr., and came after his firm, 1789 Capital, added approximately $300 million to its Polymarket investments in August, on top of an earlier $200 million, as reported by The Hill.

Kalshi stated that advising two competing companies was complicating matters, leading to the agreement to part ways. It is unclear if Trump Jr. will retain shares in Kalshi granted as part of his compensation in January 2025, which are now valued in the millions, according to The New York Times.

The Trump administration has supported prediction markets, but Democrats have pledged investigations into possible conflicts of interest, citing regulatory approvals given to Kalshi as an example, as noted by Reuters and The New York Times.