Donald Trump Jr. ends role at prediction company Kalshi

ملخص مفصل

Prediction platform Kalshi has ended its collaboration with Donald Trump Jr., citing the financial links between the president's son and rival firm Polymarket.

Prediction platform Kalshi has ended its collaboration with Donald Trump Jr., citing the financial links between the president's son and rival firm Polymarket.

"We have mutually agreed to end Don's advisory role after his firm's significant investment in a competitor this past summer. We are grateful for his contributions in helping us market Kalshi to more customers," a Kalshi spokesperson said, according to US media reports on Thursday.

Donald Trump Jr., the president's oldest son, joined Kalshi in January 2025 as a "strategic advisor." His activities in the prediction markets are just one of multiple business efforts by the Trump family since Donald Trump became president in 2025.

In August 2026, Polymarket announced that Trump Jr. had joined the company's advisory board following a "strategic investment" by 1789 Capital in which he is a partner.

US media have reported that 1789 Capital invested $300 million in Polymarket in August 2026 on top of $200 million invested in the firm earlier.

Kalshi and Polymarket dominate the growing US prediction market in which customers can place bets on sporting event outcomes, elections, financial markets, among other areas.

In late July, the state of New York sued Kalshi, accusing it of running an illegal gambling operation.

Attorney General Letitia James said New York's gambling laws protect children from underage betting and help fight gambling addiction.

Kalshi faces similar legal challenges in multiple US states where gaming regulators have issued cease-and-desist orders or filed suit accusing the platform of operating an unlicensed gambling business.

مطلع المقال، مقتطف من The Standard. لقراءة المقال كاملًا، افتحه على موقع الناشر.