Donald Trump Jr. steps down from advisory role at prediction market Kalshi

Donald Trump Jr. has concluded his stint as a strategic advisor for the prediction market platform Kalshi. This decision followed a substantial investment made by his venture capital firm into Polymarket, which operates as a direct rival to Kalshi.

A statement released by Kalshi this week confirmed the development, noting that the move was a mutual agreement. The company stated, “We have mutually agreed to end Don's advisory role after his firm's significant investment in a competitor this past summer. We are grateful for his contributions in helping us market Kalshi to more customers."

Despite stepping away from his advisory capacity, Trump Jr. potentially retains a financial stake in the business. According to a June report by the Financial Times, Trump Jr. "was handed about $300,000 worth of equity in Kalshi after joining the prediction market platform as a strategic adviser in early 2025."

Kalshi has received regulatory and legal backing from the Trump administration for its prediction market operations. Company leadership acknowledged that the optics of the situation prompted the change in personnel.