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Kalshi Ends Advisory Role with Trump Jr. Amid Rival Investment

Kalshi Ends Advisory Role with Trump Jr. Amid Rival Investment

First seen 12 Nov 2026, 23:44 UTC • •
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ThreatCluster AI
ThreatCluster •November 12, 2026 at 23:45 UTC
  • •Kalshi cut ties with Trump Jr. after his firm invested in Polymarket.
  • •The decision was mutual, with discussions starting in August 2026.
  • •Political factors were denied as influencing the decision despite internal concerns.

Kalshi has terminated its advisory relationship with Donald Trump Jr. following his venture capital firm, 1789 Capital, leading a $1 billion funding round for rival Polymarket. The decision was mutual and discussions began in August 2026 after the significant investment of $300 million by Trump Jr.'s firm. Kalshi's spokesperson emphasized that political considerations did not influence the decision, although some within the company had concerns about potential impacts from the recent Democratic midterm victories. Trump Jr. had been a strategic advisor since January 2025, receiving an equity stake valued at $300,000 at that time. The prediction market industry has seen increased scrutiny from lawmakers, particularly regarding insider trading concerns. Kalshi is reportedly seeking to raise funds and aims for a $40 billion valuation, while Polymarket seeks a valuation above $20 billion.

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Timeline

2025-01-01
Trump Jr. joins Kalshi as advisor
Donald Trump Jr. was appointed as a strategic advisor to Kalshi, receiving an equity stake valued at $300,000.
Nypost
2026-08-01
Discussions to end advisory role begin
Kalshi and Trump Jr.'s firm began discussions to end his advisory role after the investment in Polymarket.
Cointelegraph
2026-11-12
Kalshi announces end of advisory role
Kalshi publicly announced the termination of its advisory relationship with Trump Jr. due to his firm's investment in a competitor.
Nypost

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Common questions

Why did Kalshi end the advisory role?
Kalshi ended the advisory role due to Trump Jr.'s significant investment in rival Polymarket.
What was Trump Jr.'s role at Kalshi?
He served as a strategic advisor since January 2025, with an equity stake valued at $300,000.
Are there political implications for Kalshi?
Kalshi stated that political considerations did not influence the decision, although there were internal concerns about potential impacts from recent elections.