Kalshi drops Trump Jr. as adviser over Polymarket stake
Louisiana just made Kalshi & Polymarket co-defendants in the same illegal-gambling suit, the first time a state has sued essentially every prediction market platform at once.
The hit
Kalshi has ended Donald Trump Jr.’s advisory contract over his ties to rival Polymarket, according to Reuters. A Kalshi spokesperson says the split was mutual, coming after Trump Jr.’s venture firm 1789 Capital increased its stake in Polymarket. Talks on ending the deal reportedly began in the summer, after 1789 Capital led Polymarket’s latest funding round.
Why it matters
The split comes as state regulators pile lawsuits on prediction markets, with Kalshi & Polymarket both accused of illegal gambling. For bettors, it’s a sign legal pressure is mounting state by state.
The record
| Trump Jr. joined Kalshi as adviser | January 2025 |
|---|---|
| 1789 Capital first invested in Polymarket | August 2025 (CoinGape) |
| States filing enforcement actions against prediction market platforms | 13 (CoinGape) |
| Pending Supreme Court filings on prediction markets | 2, from New Jersey & Robinhood (CoinGape) |
What happens next
Watch Louisiana’s requested restraining order & injunction against Kalshi & Polymarket, plus whether the New Jersey & Robinhood Supreme Court filings draw the apex court into the fight.
Sources: Kalshi Ends Advisory Deal With Donald Trump Jr. Over Polymarket Conflict of Interest
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