Donald Trump Jr. and Kalshi end paid advisory role
Where it stands
Kalshi says it and Donald Trump Jr. mutually ended his paid advisory role because 1789 Capital made a significant investment in rival Polymarket; the company denies political considerations, and no regulatory or legal finding of wrongdoing was announced.
Sources reviewed: Nov 13, 2026 · 4:59 AM EST
Prediction-market company Kalshi said it and Donald Trump Jr. mutually ended his paid advisory role after 1789 Capital, where Trump Jr. is a partner, significantly increased its investment in rival Polymarket. A Kalshi spokesperson told Reuters that conversations about ending the contract began in August, when 1789 led Polymarket's latest funding round.
Reuters reported that Kalshi had named Trump Jr. a strategic adviser in January 2025 and compensated him with an equity stake that the Financial Times had valued at about $300,000. The reported value is attributed reporting, not a current valuation or proof that Trump Jr. sold the stake.
The announcement came after Democrats won control of Congress and said they planned scrutiny of Trump-family prediction-market ties. That chronology does not establish that political pressure caused the contract decision.
Kalshi said the change resulted from the competitor investment and involved no political consideration.
The response.
Kalshi thanked Trump Jr. for helping market the company and described the end of the relationship as mutual. Its spokesperson told Reuters there were no political considerations. Reuters separately cited two unnamed sources who said concerns had been raised inside Kalshi about possible ramifications of the Democratic congressional sweep; that remains attributed reporting, not a company finding or announced reason. Polymarket and Trump Jr. did not immediately respond to Reuters, and 1789 Capital representatives could not immediately be reached. Associated Press reported that Kalshi and Polymarket deny that their financial relationships with the Trump family influenced how the industry was regulated. No first-party Kalshi statement page or Trump Jr. statement was identified, so the company and no-comment positions are attributed to Reuters and AP.
Dates & scope
Source publication: Nov 12, 2026 · 1:18 PM EST
Event or conduct: 2026-11-12.
Full chronology and review notes
Reuters first published its report at 1:18 p.m. EST November 12 and updated it at 1:31 p.m. Associated Press published its report at 5:07 p.m. EST. Kalshi said the conversations began in August after 1789 Capital led Polymarket's latest funding round, but the advisory relationship's publicly announced end occurred November 12. The Ledger reviewed Reuters, AP and earlier investment reporting at 4:59 a.m. EST November 13. The summer investment, August discussions, November announcement, news publication and Ledger source review are distinct events.
This is a dated report. The source-review time records when the linked sources were checked; it is not a live update.
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Open the original record.
- Reuters via Investing.com, Anirban Sen: Kalshi ends Donald Trump Jr.'s advisory contract due to Polymarket conflict ↗
November 12 reporting based on Kalshi's spokesperson and additional sources; records the mutual-decision explanation, company denial of political considerations, responses sought and attributed internal concerns
- Associated Press, Ken Sweet: Donald Trump Jr. exits advisory role at prediction market Kalshi ↗
November 12 report confirming the paid role ended, preserving Kalshi's explanation and both prediction markets' denial that Trump-family financial ties affected regulation
- CoinDesk, Shaurya Malwa: Trump Jr.'s firm leads $1 billion Polymarket raise at $21 billion value ↗
September 1 reporting on 1789 Capital's approximately $300 million participation in the funding round and earlier Polymarket investment; provides investment context, not the advisory-contract disposition
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