Donald Trump Jr. Ends Paid Advisory Role at Prediction Market Kalshi: His Firm Invested in Rival Polymarket as Democrats Vow Probes of the Trump Family Business
Bloomberg reported on November 12 that Donald Trump Jr. is no longer a paid strategic adviser to Kalshi, the federally regulated prediction-market company he joined in January 2025, just before his father's second inauguration. His compensation had included Kalshi equity.
Kalshi spokesperson Dani Lever said: "We have mutually agreed to end Don's advisory role after his firm's significant investment in a competitor this past summer." The competitor is Polymarket: Trump Jr.'s firm 1789 Capital first invested in Polymarket in August 2025 and increased the investment this past summer, and he joined Polymarket's advisory board, a role he keeps.
The timing follows the Democrats' capture of both chambers in the November 3 midterms. Representative Robert Garcia, the incoming top Democrat on the House Oversight Committee, has named the Trump family business an investigative priority and told the administration to "lawyer up"; Senator Elizabeth Warren, expected to chair the Senate Banking Committee from January, and Senator Jeff Merkley had demanded answers from the White House by November 23 on Trump Jr.'s prediction-market ties.
The distinction matters: Kalshi attributes the departure to the conflict created by the rival investment and calls it a mutual decision; Democratic investigative pressure is the backdrop to the announcement, and there is no evidence it was the direct cause.
Related: 候任众议院监督委员会主席 Robert Garcia 公布调查议程：首项调查指向特朗普家族生意
(Source: Bloomberg)
Source: Bloomberg
Published by GSM · USA (original Chinese edition)
Photo: 图：小特朗普在 AmericaFest 2025 活动上（资料图）。照片 CC BY-SA 4.0，作者 Xuthoria，经 Wikimedia Commons。 / Photo: Donald Trump Jr. at AmericaFest 2025 (file photo). CC BY-SA 4.0, by Xuthoria, via Wikimedia Commons.
