Kalshi ends the advisory contract it signed with Donald Trump Jr. in January 2025, after his VC firm 1789 Capital increased its stake in Polymarket (Anirban Sen/Reuters)
Kalshi chose to formally sever ties with Donald Trump Jr. merely months after entering an advisory agreement in January 2025. The termination came directly after Trump Jr.'s venture capital vehicle, 1789 Capital, raised its ownership stake in rival platform Polymarket. This ending underscores the competitive friction between the two prominent prediction market companies.
Key points
Kalshi acted swiftly to end external advisory contracts when associated parties invested…: Kalshi acted swiftly to end external advisory contracts when associated parties invested in direct market competitors.
Increased investment by 1789 Capital into Polymarket made Donald Trump Jr.'s ongoing role…: Increased investment by 1789 Capital into Polymarket made Donald Trump Jr.'s ongoing role at Kalshi untenable.
Strategic alignments in the prediction market industry remain sensitive to competing fina…: Strategic alignments in the prediction market industry remain sensitive to competing financial stakes held by key advisers.
Sources checked by our analysis pipeline: 1
Nvidia Newsroom: |
Hayden Field / The Verge: |
New York Times: |
Financial Times: |
Michael Acton / Financial Times: |
Erik Wasson / Bloomberg: |
Amrith Ramkumar / Wall Street Journal: |
Zac Hall / 9to5Mac: |
Semafor: |
Reuters: |
Bloomberg: |
Lingling Wei / Wall Street Journal: |
The Information: |
Paul Mozur / New York Times: |
Koray Kavukcuoglu / Google: |
Abner Li / 9to5Google: |
Adam Satariano / New York Times: |
Julian Chokkattu / Wired: |
Jonathan Weil / Wall Street Journal: |
Financial Times: |
Jennifer Pattison Tuohy / The Verge: |
Rohan Goswami / Semafor: |
Anirban Sen / Reuters: |
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