Prediction market platform Kalshi has terminated its advisory contract with Donald Trump Jr. The decision follows public scrutiny from US senators Elizabeth Warren and Jeff Merkley regarding his financial connections to the sector. The company provided no official explanation for the departure.
Trump Jr. previously received shares in Kalshi valued at approximately $300 000 when the company was valued at under $2 billion. The startup later reached a valuation of $22 billion, with subsequent discussions reportedly occurring near the $40 billion mark.
The senators' inquiry, which demands a response from the White House by November 23, follows a separate investigation involving the Commodity Futures Trading Commission. The agency previously fined former operator Gabriel Perez $172 000 for trading on non-public information.
Despite leaving Kalshi, Trump Jr. retains his position on the advisory board of the rival platform Polymarket. He joined that board in August 2025, following an investment by his firm, 1789 Capital. The regulatory environment for these platforms has been a point of focus for federal oversight.
