Donald Trump Jr. Ends Advisory Role At Kalshi

Donald Trump Jr., the eldest son of the U.S. president, has stepped down from his advisory role at prediction market Kalshi.

Trump Jr.’s venture capital firm, 1789 Capital, holds big financial stakes in both Kalshi and rival platform Polymarket.

Trump Jr. is viewed as a key ally and supporter of prediction markets in Washington, D.C. where they face scrutiny and accusations that they run illegal gambling operations.  

Kalshi said Trump Jr.’s exit began in August of this year after his venture capital firm took a major stake in Polymarket.

Kalshi said the decision for Trump Jr. to end his advisory role was mutual and that both parties agreed it was conflict of interest to keep the president’s son as an advisor while he also serves as a top investor at rival Polymarket. 

Trump Jr.’s departure also comes after Democrats secured control of Congress in midterm elections, with the party expected to crackdown on the prediction market industry. 

While Trump Jr. has exited Kalshi, he still serves as an advisor at Polymarket. Kalshi first named Trump Jr. as a strategic advisor of the company in January 2025.

While Kalshi and Polymarket deny that they facilitate gambling, the prediction markets enable people to wager money on real-world events such as sports, the weather, and if airplanes land on time. 

Multiple U.S. states are suing Kalshi and Polymarket, claiming they are operating illegally in their jurisdiction. The matter is headed to the U.S. Supreme Court in 2027.

Kalshi and Polymarket are privately held and their stocks do not trade on public exchanges.