From CNBC · Contessa Brewer,Ananya Chetia · · 1m 10s
Trump Jr. quits Kalshi advisory role over Polymarket stake
Donald Trump Jr. has ended his advisory contract with prediction market platform Kalshi after his venture capital firm took a stake in rival Polymarket, citing a conflict of interest.
In brief
Donald Trump Jr. has ended his advisory contract with prediction market platform Kalshi after his venture capital firm took a stake in rival Polymarket, citing a conflict of interest. Donald Trump Jr. ended his advisory role at Kalshi after his firm 1789 Capital invested in rival prediction market Polymarket, both…
Trump Jr. exits Kalshi advisory role
Prediction market platform Kalshi ended its advisory contract with Donald Trump Jr. after his venture capital firm 1789 Capital took a major stake in rival platform Polymarket.
Mutual decision over conflict of interest
Both Kalshi and Trump Jr. agreed it was a conflict of interest to keep the president's son as an advisor while serving as a top investor for Polymarket. Conversations on his exit began in August.
“it was a conflict of interest to keep the president's son as an advisor while serving as a top investor for Polymarket”
Democrats' crackdown threatens prediction markets
Trump Jr.'s departure comes as Democrats secured a majority in the House and Senate, expected to crack down on the prediction market industry. His ties could make prediction markets an easy target for lawmakers.
What to remember
Donald Trump Jr. ended his advisory role at Kalshi after his firm 1789 Capital invested in rival prediction market Polymarket, both sides agreeing the arrangement posed a conflict of interest.
