Key facts
- Kalshi ended Donald Trump Jr's advisory contract, a Kalshi spokesperson said.
- The spokesperson said the split was mutual and conversations began in August.
- 1789 Capital, Trump Jr's venture capital firm, increased its stake in Polymarket.
- 1789 Capital led Polymarket's most recent funding round, the spokesperson said.
Prediction markets startup Kalshi ended its advisory contract with Donald Trump Jr after his venture capital firm 1789 Capital increased its stake in rival Polymarket, a Kalshi spokesperson told Reuters on November 12, 2026.
The spokesperson said the decision was mutual and that conversations to end the contract began in August, after 1789 Capital led Polymarket's most recent funding round. "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. "We are grateful for his contributions in helping us market Kalshi to more customers."
Kalshi and Polymarket both operate prediction markets, where users trade on the outcome of events. The report did not state the value of 1789 Capital's stake in Polymarket or the terms of Trump Jr's advisory contract.