Kalshi, the nation’s largest prediction market, announced Thursday that Donald Trump Jr. will no longer serve as an adviser, The New York Times reported. The firm said both parties agreed to part ways because his investment firm, 1789, had heavily invested in Polymarket, Kalshi’s biggest competitor. A spokesman for Donald Trump Jr. confirmed that the decision was mutual.
Kalshi said it reached out to Donald Trump Jr. this fall to discuss ending his contract. The move came after 1789 added about $300 million to its Polymarket investments in August, on top of earlier contributions of about $200 million. “Both parties understood that advising two competitors in a growing sector was complicating things,” the company said.
Important to note here, he didn’t exit prediction markets. Still invested in Polymarket.
But I agree it will be interesting to see. I am particularly curious about whether bets and payouts from Kalshi will carry a meaningful difference from Polymarket after this, potentially pointing to something peculiar happening behind the scenes.
Good point. Thank you for the addition.