Donald Trump Jr. leaves paid advisory role at prediction market Kalshi

Donald Trump Jr. departed from his paid advisory role at prediction market Kalshi on Thursday after the two parties reached what was framed as a mutual agreement following the president’s son growing closer to competitor Polymarket.Trump first joined Kalshi following his father’s inauguration in 2025 as a “strategic advisor,” and later that year, he also joined the advisory board at Polymarket. In August, Trump’s investment firm, 1789 Capital, announced it would be increasing its investment in Polymarket by a reported tens of millions of dollars. Kalshi said Thursday Trump’s relationship with its competitor led to his departure. Recommended Stories “We have mutually agreed to end Don’s advisory role after his firm’s significant investment in a competitor this past summer,” Dani Lever, a spokeswoman for Kalshi, told the Washington Examiner. “We are grateful for his contributions in helping us market Kalshi to more customers.” Discussions surrounding Trump’s departure began in August, when 1789 Capital led Polymarket’s latest fundraising round, according to reports. The investment firm reportedly committed approximately $300 million to the company as part of a larger $1 billion effort.The president’s eldest son previously received a stake in Kalshi valued at approximately $300,000 as compensation for his advisory role, according to the Financial Times. It remains unclear whether Trump will retain that stake following his departure.Kalshi and Polymarket allow users to trade contracts based on the outcomes of future events, ranging from election results to sporting competitions. Unlike traditional sportsbooks, the platforms allow users to buy and sell contracts whose prices fluctuate based on the perceived likelihood of an event occurring.LUTNICK EMERGES AS FAVORED NEXT-TO-GO IN TRUMP’S POST-MIDTERM PERSONNEL SHUFFLEBoth platforms gained national attention during the 2024 presidential election, when prediction markets indicated President Donald Trump was favored to win despite a closely contested race in traditional polling. Trump Jr. has championed prediction markets for having “completely changed the way people follow the news,” proclaiming his support for the industry when announcing 1789 Capital’s investment in Polymarket.Trump Jr.’s departure also comes as Democrats prepare to wield control of Congress’s investigative committees after having secured control of both chambers in the midterm elections. Democrats have promised intense congressional scrutiny while in control and have signaled intentions to investigate the Trump family’s financial relationships with companies that have benefited from policies under the Trump administration.