Trump Jr. Leaves Kalshi Advisory Role Amid Competitor Bet

Donald Trump Jr. is no longer a paid adviser for Kalshi. The prediction market company announced the departure on Thursday, Nov. 12. Trump Jr. had held the position of strategic adviser since shortly after President Trump began his second term in January 2025.

Kalshi called the change a mutual business decision. The split followed a move by Trump Jr.'s investment firm, 1789 Capital. In August 2025, 1789 Capital increased its investment in Polymarket, Kalshi's biggest competitor. Dani Lever, a spokesperson for Kalshi, said the investment in a rival triggered the review of Trump Jr.'s role.

"We have mutually agreed to end Don's advisory role after his firm's significant investment in a competitor this past summer," Lever said. She added that the company values his help in marketing Kalshi to more customers.

The timing coincides with a shift in Congress. Democrats won control of both the House and Senate in the midterm elections last week. Lawmakers in the new majority have stated they plan to investigate the Trump family's investments. They intend to look closely at business ties between the family and both prediction market platforms.

Both Kalshi and Polymarket have grown in popularity over the past two years. The industry also received favorable regulatory treatment. The Commodity Futures Trading Commission supported efforts to expand products nationwide. This includes allowing customers to trade sports-related contracts. Both companies deny that their financial relationships with the Trump family influenced how the administration regulated the sector.