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Donald Trump Jr. is out as a Kalshi adviser following his investment firm’s backing of rival prediction market Polymarket. Kalshi described the departure as a mutual decision, according to KEYE and The Seattle Times.
The Seattle Times quoted a Kalshi spokesperson explaining the move: “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”.
Polymarket Investment Precedes Advisory Exit
Trump Jr. is a senior partner at 1789 Capital, KEYE reported. The firm invested about $300 million in Polymarket this summer, according to the outlet. It led a $1 billion funding round that valued Polymarket at about $21 billion, KEYE reported.
Trump Jr. had held advisory positions at both prediction-market companies. He remains a Polymarket adviser, according to reports cited by KEYE.
KEYE reported that he joined Kalshi in January 2025 and reportedly received an equity stake valued at $300,000. Kalshi said his contributions focused on marketing strategy rather than regulatory matters, according to both outlets.
Prediction Markets Face State Legal Challenges
The business split comes against a backdrop of legal scrutiny for prediction markets. Several states have sued Kalshi and Polymarket, alleging violations of state gambling laws, KEYE reported.
Kalshi offers contracts tied to future events, including elections, according to KEYE. Its election trading drew attention in 2024 as its odds pointed toward a Trump victory despite close polls, the outlet reported.
Democrats have pledged to examine prediction markets and Trump family business ties, according to KEYE and The Seattle Times.
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Sources: As reported by KEYE and The Seattle Times.
