Kalshi and Trump Jr. End Advisory Role After Polymarket Investment

Kalshi and Donald Trump Jr. have mutually agreed to end his advisory role at the prediction-market company after his investment firm, 1789 Capital, significantly increased its investment in rival Polymarket, Kalshi said. The discussions began in August, when 1789 Capital led Polymarket’s latest funding round, according to a Kalshi spokesperson.

The departure ends Trump Jr.’s advisory position at Kalshi, which began in January 2025. He remains an adviser to Polymarket, where he joined the advisory board in August 2025. Polymarket and Trump Jr. did not immediately respond to requests for comment, Reuters reported.

Kalshi said the decision was mutual and thanked Trump Jr. for helping the company market its platform to more customers. The company’s statement did not address whether he will retain the Kalshi equity he received for the advisory role. Reuters reported that the stake was worth $300,000 when he joined, based on a valuation of Kalshi at the time.

1789 Capital said it would contribute about $300 million to a planned Polymarket funding round targeting $1 billion. The planned round valued Polymarket at $21 billion. Those figures describe the proposed financing, not a...