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Institutions & ETFs · 1 min read

Kalshi Terminates Donald Trump Jr. Advisory Post Over Polymarket Stake

The prediction exchange separated from Trump Jr. after 1789 Capital backed rival Polymarket's $1 billion funding round.

Editorial oversight: Julian Mercer, Chief Editor
Neutral

At a glance Announced

What happened
Kalshi mutually ended its advisory relationship with Donald Trump Jr. on Nov. 12, 2026, after his fund backed rival Polymarket.
Why it matters
The departure resolves a direct conflict of interest after Trump Jr.'s venture fund led a $1 billion funding round for Polymarket.
Who is affected
Kalshi, Donald Trump Jr., 1789 Capital, and Polymarket.
What's next
No next step announced.
Primary source
cointelegraph.com: Kalshi ends Donald Trump Jr. advisory role over Polymarket investment: Reuters

Key points

  • Kalshi and Donald Trump Jr. mutually ended his advisory post following 1789 Capital's investment in Polymarket 1.
  • Trump Jr.'s venture fund led a $1 billion round for Polymarket at a $21 billion valuation, pledging around $300 million 1.
  • Kalshi denied political motivations, though internal sources cited concerns over Democrats winning both chambers of Congress 1.

Event contracts platform Kalshi concluded its formal advisory ties with Donald Trump Jr. following his venture firm's decision to back direct competitor Polymarket, according to a Kalshi spokesperson cited by Reuters on Nov. 12, 2026 1.

Discussions to part ways started in August after 1789 Capital, Trump Jr.'s investment vehicle, led a $1 billion capital raise for Polymarket that priced the competing firm at $21 billion 1. The transaction included an anticipated $300 million injection from 1789 Capital 1. A representative for Kalshi stated that both parties came to a mutual decision to discontinue the relationship because of the substantial capital committed to a competing venue, emphasizing that political factors were not involved in the split 1.

Trump Jr. originally took an advisory position at Kalshi in January 2025, receiving company shares valued at approximately $300,000 at that time, according to earlier reporting by the Financial Times cited in the report 1. Despite Kalshi's statement dismissing political motivations, two individuals familiar with the discussions told Reuters that internal figures had expressed unease regarding the regulatory climate following a Democratic sweep of both congressional chambers in the midterm elections 1.

Sources

  1. [1] Kalshi ends Donald Trump Jr. advisory role over Polymarket investment: Reuters — cointelegraph.com, November 12, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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