Donald Trump Jr. steps down as adviser

Donald Trump Jr., the eldest son of US President Donald Trump, is no longer a paid advisor to futures trading platform Kalshi, the company said on Thursday (November 12). The Guardian reports. 

Kalshi said the termination of Trump Jr.'s advisory role was agreed upon by both parties. The move came after his investment firm, 1789 Capital, decided to increase its investment in Kalshi's biggest rival, Polymarkets.

The announcement comes as Democrats, who have taken control of both the House and Senate after the midterm elections, have announced plans to investigate the Trump family's various investments and business ties to Kalshi and Polymarkets.

"We mutually agreed to terminate Don's advisory role following a significant investment by his investment firm in a rival company this summer," said Danny Lever, a spokesman for Kalshi. "We are grateful for his contributions to Kalshi's marketing efforts to grow its customer base."

Shortly after Trump was sworn in for a second term as president in January 2025, Kalshi's eldest son was appointed as a 'strategic advisor'. On the other hand, he has also been an investor in Polymarket since August 2025.

In the last two years, the popularity and number of users of both Kalshi and Polymarket have increased significantly.

Meanwhile, the report notes that the two companies have also received benefits from the White House in various areas. The country's Commodity Futures Trading Commission (CFTC) has supported the initiative to expand this futures-based trading market. This includes allowing customers to trade sports-related contracts.

However, both organizations have strongly denied allegations that the financial ties between Polymarket, Kalshi, and the Trump family have had any impact on the regulation or policies of the sector under the current administration.

In August of this year, 1789 Capital increased its investment in Polymarket as part of its latest fundraising campaign. The company said that this investment was the main reason behind the start of discussions about ending Trump Jr.'s role as an advisor in Kalshi.