Kalshi Ends Trump Jr. Advisory Deal After 1789 Capital Adds to Polymarket Stake

Kalshi ended its advisory relationship with former Kalshi adviser Donald Trump Jr. after 1789 Capital, a venture firm associated with him, increased its investment in rival Polymarket.

A Kalshi spokesperson said the two sides agreed to end the contract. They began discussing its termination after 1789 Capital led Polymarket’s latest funding round in August, the spokesperson said.

Kalshi and Polymarket compete in prediction markets. Kalshi had 75.7% of face-value contract volume across nine tracked prediction-market venues during the 30 UTC days from Sept. 29 through Oct. 28. Polymarket’s U.S. and international platforms combined for 15.7% over the same period. Those figures measure contract face value, not dollars paid.