Donald Trump Jr. is no longer serving as a paid adviser for the prediction market company Kalshi, the platform announced on Thursday.
Kalshi described the outcome as a mutual commercial decision between the two parties that followed a decision by 1789 Capital, the investment firm tied to Trump Jr., to expand its financial stake in Kalshi's major market competitor, Polymarket.
The announcement arrives just one week after Democrats managed to take control of both the House and Senate following the midterm elections.
Democrats have previously stated that they intend to investigate the financial investments of the Trump family, with a specific focus on their ongoing business relationships with both prediction markets.
"We have mutually agreed to end Don’s advisory role after his firm’s significant investment in a competitor this past summer," said Dani Lever, a spokesperson for Kalshi.
"We are grateful for his contributions in helping us market Kalshi to more customers."
The president's eldest son stepped into his role as a paid "strategic adviser" for Kalshi shortly after President Trump was sworn into office for his second term in January 2025, having also maintained a stake as an investor in Polymarket since August 2025.
Both commercial platforms have seen their general popularity and usage jump significantly over the past two years.
During the same timeframe, both businesses received favorable regulatory treatment from the White House.
The Commodity Futures Trading Commission has supported the industry's ongoing efforts to expand its financial products nationwide, including permitting customers to actively trade sports-related contracts.
Both companies have adamantly denied that the underlying financial relationship between Polymarket, Kalshi, and the Trumps played any role in how regulatory oversight was carried out under this administration.
1789 Capital expanded its financial investment in Polymarket this past August during Polymarket's latest capital fundraising round, an action that initiated the internal conversations that ultimately concluded Trump Jr.'s advisory role with Kalshi.
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