Donald Trump Jr exits as paid adviser for prediction market Kalshi

Donald Trump Jr. has exited as a paid adviser for Kalshi, the prediction market company announced on Thursday. The decision was mutually agreed upon between Kalshi and Trump Jr.'s investment firm, 1789 Capital. The announcement follows a trend as Democrats took control of both the House and Senate in the recent midterm elections.

Democrats have stated their intention to investigate the Trump family's investments, including their business relationships with both prediction markets. Kalshi spokesperson Dani Lever stated that while they are grateful for Donald Jr.'s contributions in promoting Kalshi to more customers, his firm's significant investment in a competitor this summer led to the end of his advisory role.

Donald Jr. became a paid "strategic adviser" for Kalshi shortly after President Trump's second term began in January 2025 and has been an investor in Polymarket since August 2025. Both companies have experienced a surge in popularity and usage over the past two years and have received positive support from the White House. Despite the financial relationship between Polymarket, Kalshi, and the Trumps, both companies firmly deny that it influenced the industry's regulation under the current administration.