Kalshi says its cutting ties with Donald Trump Jr. over his firms big investment in rival Polymarket | Latest Tech News
Prediction market giant Kalshi said Thursday it has cut ties with Donald Trump Jr. over his enterprise capital firm growing its stake in rival Polymarket.
Kalshi said it and Trump parted methods after his firm 1789 Capital led a major funding spherical for Polymarket and invested $300 million in it over the summer season, as first reported by GWN.
“We have mutually agreed to end Don’s advisory role after his firm’s significant investment in a competitor this past summer,” a Kalshi spokesperson told The Post.
Donald Trump Jr. has parted methods with prediction market giant Kalshi after his enterprise capital firm elevated its investment in rival Polymarket, GWN reported. AP Photo/Rebecca Blackwell
“We are grateful for his contributions in helping us market Kalshi to more customers,” the spokesperson added.
The two sides started discussing going their separate methods in August, according to GWN.
Trump Jr. was named a “strategic advisor” to Kalshi in January 2025 and acquired an equity stake valued at $300,000 at the time, according to a Financial Times report.
Don Jr.’s enterprise capital firm, 1789 Capital, has invested closely in Polymarket, a rival to Kalshi, where he beforehand served as an adviser. Getty Images
Prediction markets gained prominence during the 2024 presidential election after signaling a Trump victory, in distinction to conventional opinion polls.
Kalshi touted the accuracy of its forecasts after Donald Trump’s victory, criticizing conventional opinion polls and news retailers for failing to anticipate the election consequence.
The industry’s speedy rise has also attracted consideration on Capitol Hill, where Democrats are threatening harder scrutiny of the platforms.
Progressive Sen. Elizabeth Warren of Massachusetts has vowed to crack down on insider trading in prediction markets amid growing issues about the industry’s oversight.
Kalshi has reportedly been in talks to raise funds and is eyeing a $40 billion valuation. Polymarket is reportedly aiming for a valuation above $20 billion.
Trump Jr. and Polymarket didn’t immediately reply to The Post’s requests for remark.
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