Prediction market Kalshi cuts ties with Trump's son following Polymarket funding
The Democratic sweep of both houses of US Congress in the midterm elections could bring more scrutiny of companies over links to the White House.
Prediction markets platform Kalshi has severed its advisory relationship with Donald Trump Jr., following his investment firm 1789 Capital's recent stake increase in rival Polymarket, according to a Kalshi spokesperson. The shift comes amid potential congressional scrutiny of companies connected to the White House, following a Democratic sweep in the US midterm elections.
Kalshi had designated Trump Jr. as their strategic advisor in January 2025, providing him with a $300,000 stake in the company. The company made clear that the decision to end their partnership was not politically motivated, despite some internal concerns about potential ramifications. Kalshi had been actively seeking partnerships with various demographic and political groups in early 2025, including the MAGA movement.
Polymarket, meanwhile, declined to comment on the matter, and neither Trump Jr. nor 1789 Capital provided immediate responses to requests for comment.
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