Trump Jr. Exits Kalshi Advisory Role After 1789 Capital Backs Rival Polymarket
Updated
Updated · CNBC · Nov 12
Trump Jr. Exits Kalshi Advisory Role After 1789 Capital Backs Rival Polymarket
3 articles · Updated · CNBC · Nov 12
Summary
Kalshi ended Donald Trump Jr.'s advisory contract after his venture firm, 1789 Capital, took a stake in rival prediction market Polymarket, a move both sides deemed a conflict of interest.
August talks on his exit began soon after 1789 Capital announced the Polymarket investment, and Trump Jr. remains an advisor to Polymarket.
Kalshi CEO Tarek Mansour had already called Trump Jr.'s role an "optics issue" in early October, while saying the company never relied on him for government influence.
The departure lands as Democrats control both chambers of Congress and are expected to scrutinize prediction markets more aggressively, potentially making Trump family ties to the sector a political target.