Kalshi Cuts Ties with Donald Trump Jr. Over Polymarket Investment

Prediction-market platform Kalshi has ended its advisory role with Donald Trump Jr. by mutual agreement. The decision comes after 1789 Capital, a venture-capital firm associated with Trump Jr., increased its investment in rival platform Polymarket.

Details

Discussions to end the arrangement started after 1789 Capital led the latest funding round for Polymarket, according to a spokesperson for Kalshi. Prediction-market platforms like Kalshi and Polymarket are still illegal or lack proper regulation in most countries outside the United States.

Context

Prediction markets allow users to bet on the outcomes of real-world events such as elections and economic shifts. Growing financial backing for these platforms highlights the rising commercial interest in online betting markets.

What's Next

Both platforms continue to operate in a changing legal space as regulators look closely at prediction-based trading. Market watchers will track how investments shape competition between leading prediction sites.