The $40 billion forecast market said the split was mutual after Trump Jr.’s 1789 Capital led a financing round this summer for rival Polymarket.
Prediction Market Kalshi ended his consulting contract with Donald Trump Jr. after his venture capital firm 1789 Capital increased its stake in rival Polymarket, a spokesperson said. told Reuters.
What’s the scoop?
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The split: “We have mutually agreed to end Don’s advisory role following his company’s significant investment in a competitor last summer. We are grateful for his contribution in helping us market Kalshi to more customers,” the spokesperson said. Conversations began in August, after 1789 led Polymarket’s latest funding round, a $1 billion raise at a $21 billion valuation, by CoinDeskquoting a spokesperson from 1789.
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Both sides: Kalchi appointed Trump Jr. a strategic advisor in January 2025 and gave him a stake in Financial Times later reported to be worth $300,000. He also joined Polymarket Advisory Board in August 2025, when 1789 first invested. Neither Polymarket nor Trump Jr. immediately responded to Reuters.
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The exam: In a November 9 letterSenators Elizabeth Warren and Jeff Merkley flagged Trump Jr.’s advisory roles and financial interests in market prediction platforms and demanded answers from the White House by November 23. Warren is expected to chair the Senate Banking Committee and has pledged to crack down on insider trading in the sector, as well as examining the Trump family’s business ventures.
David Christophe
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David is a writer/analyst at Bankless. Before joining Bankless, he worked for a series of early-stage crypto startups and with grants from the Ethereum, Solana and Urbit foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.
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