Kalshi Ends Trump Jr. Advisory Role After Polymarket Investment

Kalshi and Donald Trump Jr. have mutually agreed to end his paid advisory role at the prediction-market company after his investment firm, 1789 Capital, made a significant investment in rival Polymarket. Kalshi spokesperson Dani Lever said the investment prompted the decision and credited Trump Jr. with helping the company attract customers.

Trump Jr. joined Kalshi as a strategic adviser in January 2025 and also serves as an adviser to Polymarket. His firm’s investment in Polymarket became public in August, and Kalshi’s spokesperson said the parties agreed to end his role after that investment in a competitor. A person familiar with Kalshi’s decision-making told MS NOW that discussions began in August; the person said the parties later concluded that advising competing firms posed a conflict of interest.

The stated business rationale is disputed as a complete account of the decision. Kalshi said politics played no role. Two people familiar with company discussions told Reuters that some employees were concerned about possible consequences of Democratic victories in the midterm elections. Their account was attributed to unnamed sources, and the company’s spokesperson tied the...