Prediction market Kalshi cuts ties with Trump's son following Polymarket funding

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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.

Kalshi has ended its advisory contract with Donald Trump Jr after his venture capital firm 1789 Capital increased its stake in arch-rival Polymarket, according to a spokesperson for the $40 billion prediction markets startup.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. Democrats have said they plan to use investigative powers on US President Donald Trump's family business ties.Kalshi had named Trump Jr a "strategic advisor" in January 2025.

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