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● LIVE Updated 25m ago · 11 sources tracked

EXCLUSIVE: Kalshi says it ended Donald Trump Jr's advisory contract over Polymarket conflict

Kalshi has terminated its advisory agreement with Donald Trump Jr after his venture capital firm 1789 Capital increased its stake in Polymarket, a rival prediction market platform. The decision was confirmed by Kalshi and reported by Reuters, Bloomberg, The New York Times, The Washington Post, The Guardian and the Financial Times on November 12. Trump Jr had served as a paid adviser to Kalshi since 2022. The move follows the U.S. midterm elections and reflects growing competition between the two prediction markets.

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  • ✓ Kalshi ended its advisory contract with Donald Trump Jr on November 12, 2026.
  • ✓ The termination was due to 1789 Capital increasing its stake in Polymarket.
  • ✓ Donald Trump Jr had been a paid adviser to Kalshi since 2022.
  • ✓ Multiple major outlets including Reuters, Bloomberg, The New York Times, The Washington Post, The Guardian and the Financial Times reported the news on November 12.
🛡️ Source Corroboration: 11 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Kalshi formally ended Donald Trump Jr's advisory contract on November 12, citing his firm's deepened investment in rival Polymarket as the reason.

Live updates

  1. Kalshi ends Donald Trump Jr advisory contract over Polymarket conflict

    Kalshi has terminated its advisory agreement with Donald Trump Jr after his venture capital firm 1789 Capital increased its stake in Polymarket, a rival prediction market platform. The decision was confirmed by Kalshi and reported by Reuters, Bloomberg, The New York Times, The Washington Post, The Guardian and the Financial Times on November 12. Trump Jr had served as a paid adviser to Kalshi since 2022. The move follows the U.S. midterm elections and reflects growing competition between the two prediction markets.

    Why it matters

    Prediction markets have drawn heightened regulatory and political scrutiny since the 2024 election cycle. Kalshi, a CFTC-regulated exchange, and Polymarket, a crypto-based platform, compete for users and credibility. Trump Jr's role at Kalshi while his firm invested in Polymarket created a direct conflict of interest. The midterm results shifted political momentum, prompting Kalshi to distance itself from a high-profile Republican figure tied to a competitor.

    What is confirmed

    • Kalshi ended its advisory contract with Donald Trump Jr on November 12, 2026.
    • The termination was due to 1789 Capital increasing its stake in Polymarket.
    • Donald Trump Jr had been a paid adviser to Kalshi since 2022.
    • Multiple major outlets including Reuters, Bloomberg, The New York Times, The Washington Post, The Guardian and the Financial Times reported the news on November 12.

    Still unconfirmed

    • The decision was influenced by Democratic gains in the midterm elections.
    • Kalshi may face regulatory pressure over political affiliations of its advisers.

    What to watch next

    • Whether 1789 Capital discloses the size of its increased Polymarket stake
    • If Kalshi appoints a replacement adviser with political ties
    • Any CFTC statement on prediction market conflicts of interest
    Sources used for this update (11)
    1. consent.yahoo.com — Latest news and current events updates | Yahoo News Singapore
    2. www.dzrh.com.ph — DZRH news
    3. digg.com — Microsoft, Alphabet and 14 others object to OKXICE’s tokenized-stock plans · Digg
    4. Reuters — EXCLUSIVE: Kalshi ends Donald Trump Jr's advisory contract due to Polymarket conflict
    5. Bloomberg.com — Donald Trump Jr. Out as Kalshi Adviser Following Midterms
    6. The New York Times — Kalshi Severs Its Relationship With Donald Trump Jr.
    7. The Washington Post — Kalshi parts ways with Trump Jr. after his firm deepens its Polymarket bet
    8. The Guardian — Donald Trump Jr exits as paid adviser for prediction market Kalshi
    9. Financial Times — Kalshi cuts ties to Donald Trump Jr after Democrats’ midterm sweep
    10. sg.finance.yahoo.com — Exclusive-Kalshi says it ended Donald Trump Jr's advisory contract over Polymarket conflict
    11. sg.style.yahoo.com — NEWS member Shigeaki Kato enters fatherhood at 39 - Yahoo Life Singapore
    confidence 90%
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