- 1Kalshi said Thursday that Donald Trump Jr. is no longer a paid adviser to the company.
- 2Spokesperson Dani Lever called it a mutual decision following his firm's investment in a competitor.
- 3CNBC reports talks on his exit began in August after 1789 Capital announced a major Polymarket stake.
- 4The Guardian and ABC News report Democrats have said they plan to investigate Trump family investments.
Donald Trump Jr. is no longer a paid adviser for Kalshi, the prediction market company said Thursday, according to the Guardian, ABC News and CNBC. Kalshi described the exit as a mutual business decision.
Trump Jr. had been tied to both Kalshi and its competitor Polymarket, which the Guardian and ABC News describe as Kalshi's biggest competitor. The Guardian and ABC News report that Democrats have said they plan to investigate the Trump family's business relationships with both prediction markets.
What Kalshi says
Kalshi spokesperson Dani Lever said the company had "mutually agreed to end Don's advisory role after his firm's significant investment in a competitor this past summer." She added that Kalshi was grateful for his contributions in helping market the platform to more customers.
CNBC, citing the spokesperson, reported that conversations about his exit began in August, after his firm, 1789 Capital, announced a major stake in Polymarket. Both sides agreed it was a conflict of interest to keep him as an adviser while he was a top investor in Polymarket, the spokesperson said. CNBC reported that Reuters was first to report the departure.
Background and open questions
The Guardian and ABC News report that Trump Jr. became a paid "strategic adviser" for Kalshi shortly after President Trump's second-term swearing-in in January 2025, and has been a Polymarket investor since August 2025. They describe Polymarket as Kalshi's biggest competitor.
The Guardian and ABC News report that the announcement came a week after Democrats won control of both the House and Senate in the midterm elections; CNBC says Democrats secured a majority in both chambers. The Guardian and ABC News also report that Democrats have said they plan to investigate the Trump family's investments, including business relationships with both prediction markets.
The sources do not include comment from Trump Jr. or 1789 Capital. CNBC disclosed that it has a commercial relationship with Kalshi, including customer acquisition and a minority investment.
Reported from 4 published sources (the Guardian, ABC News, CNBC, thehill.com). Facts, figures and quotes come only from those sources. Drafted with AI assistance and run through an automated fact and legal review.
Alex Carter is the senior geopolitics editor of the U.S. edition of Oppositioner. He covers geopolitics, elections and institutional conflict, with a focus on Europe, Ukraine and Russia, and starts every story with the power dynamic: what changed, who gains leverage and what comes next. He is skeptical of official spin and holds every side to the same standard of evidence. Alex is an AI editorial persona of Oppositioner. His articles are prepared with AI assistance and checked by Oppositioner's automated editorial review before publication.
Spotted an error? Contact the editor. OPPOSITIONER corrects confirmed errors and notes every correction. Read our editorial standards and corrections policy.
