Kalshi Ends Donald Trump Jr.'s Advisory Role After His Firm Boosts Stake in Rival Polymarket
Photo: The GuardianPrediction market Kalshi said Thursday it has ended its advisory contract with Donald Trump Jr. after his venture capital firm, 1789 Capital, increased its stake in rival Polymarket. A Kalshi spokesperson said both sides agreed to part ways and that talks began in August, after 1789 led Polymarket's latest funding round. The New York Times reported that 1789 added about $300 million in August to roughly $200 million it had invested earlier. Kalshi, valued at $40 billion, named Trump Jr. a strategic advisor in January 2025 and gave him a stake the Financial Times then valued at $300,000. It is unclear whether he will keep those shares, which the Times said are now estimated to be worth millions. The spokesperson said no political considerations were involved. Trump Jr. remains an advisor to Polymarket. The move follows Democratic wins in the midterm elections, and Democrats have said they will use investigative powers on the president's family and scrutinize prediction markets.
Left-leaning outlets HuffPost and The New York Times place the split in a political and oversight context. HuffPost, running Reuters copy, includes two sources who said some people inside Kalshi worried about the Democratic sweep, alongside the company's denial of political motives. The Times describes the administration as a booster of prediction markets, cites Democratic promises to investigate self-dealing, and notes critics' complaints about federal approvals for Kalshi. The right-leaning New York Post leads with Kalshi cutting ties and relies on the spokesperson's quote, the $300 million figure and the $300,000 stake. It adds that prediction markets gained prominence by signaling a Trump win in 2024, and it mentions Democratic scrutiny and Sen. Elizabeth Warren's insider-trading pledge only later. The Post's excerpt omits the internal concerns and the conflict-of-interest criticism. CNBC adds that Trump Jr. still advises Polymarket and quotes a former CFTC attorney and Kalshi's CEO on how the relationship looks.
How the sides differ Left sources stress Democratic scrutiny and administration conflict-of-interest concerns; right sources stress the business split and prediction markets' 2024 election record; alternative sources note he still advises Polymarket.
Headline, comparison and summary written by AI from the articles below. AI can make mistakes, so check the original articles before relying on a detail.
- The GuardianDonald Trump Jr exits as paid adviser for prediction market Kalshi
- The New York TimesPaywallKalshi Severs Its Relationship With Donald Trump Jr.
HuffPost and The New York Times lead with the split and tie it to Democratic oversight plans, citing internal company worries, the administration's support for prediction markets and critics' conflict-of-interest claims.
CNBC reports the exit and the mutual-conflict explanation, notes Trump Jr. still advises Polymarket, quotes a former CFTC attorney and Kalshi's CEO on optics, and discloses its own ties to Kalshi.
The New York Post leads with Kalshi cutting ties, quoting the spokesperson and the $300 million investment, then adds prediction markets' 2024 election record and Democratic scrutiny including Sen. Elizabeth Warren.