It Seems Very Clear Why Don Trump Jr. Has Suddenly Been Yeeted Out of Kalshi

Donald Trump Jr. has left his role as an advisor to the prediction market Kalshi, the company confirmed to Bloomberg.

The timing of the personnel change is striking given that Trump first joined Kalshi as an advisor shortly before the November 2024 election. Now, his departure comes as tech leaders and their companies move to distance themselves from right-wing politics and the second Trump Administration ahead of Democrats taking back Congressional power in 2027 — with a broad mandate from voters to crack down on government corruption.

Trump Jr.’s investment firm, 1789 Capital, is invested in Kalshi and its rival Polymarket. He’s held advisor roles with both companies, and as Bloomberg notes, he received hundreds of thousands of dollars in equity from Kalshi in exchange for his work. (Kalshi has said that Trump Jr.’s said work has involved giving advice about its “marketing strategy.”)

Though the Trump family has pledged to keep business dealings away from politics, Trump Jr. urged state attorneys general against moving to limit or regulate prediction markets in a closed-door meeting earlier this year, according to The New York Times.

A Kalshi spokesperson told Bloomberg that the decision to part ways was due to Trump Jr.’s investment in its rival, which wasn’t at all a secret that would suddenly be an issue post-midterm.

“We have mutually agreed to end Don’s advisory role after his firm’s significant investment in a competitor this past summer,” said the company. “We are grateful for his contributions in helping us market Kalshi to more customers.”

Democrats have vowed to launch investigations into corruption once in power, and should they follow through, the Trump family’s relationships with Kalshi and Polymarket will certainly come under Congressional scrutiny. Even now, Kalshi may already be in the government’s crosshairs: Politico reported yesterday that the Commodity Futures Trading Commission, a top financial regulator, is preparing to file charges against Kalshi for allegedly failing to notify the oversight agency about dozens of new products it was preparing to release to consumers.

Kalshi also continues to face pressure on the state level and is fighting a lawsuit brought by the state of New York, which has accused Kalshi of running an “illegal, unlicensed gambling operation.” Kalshi and Polymarket have also drawn concern over fears that the bet-on-anything platforms are worsening America’s gambling addiction crisis.

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