The prediction market operator said the decision was mutual and followed 1789 Capital’s investment in rival Polymarket, denying political considerations.
Prediction market platform Kalshi has ended its advisory relationship with Donald Trump Jr. after his venture capital firm increased its investment in rival Polymarket, Reuters reported Thursday.
A Kalshi spokesperson told Reuters that talks about ending Trump Jr.’s advisory role began in August, after Trump Jr.’s venture capital firm, 1789 Capital, took the lead on Polymarket’s $1 billion funding round. The round would value the company at $21 billion, with 1789 Capital set to contribute about $300 million.
“We have mutually agreed to end Don’s advisory role after his firm’s significant investment in a competitor this past summer,” the spokesperson said.
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