Kalshi has ended Donald Trump Jr.’s advisory role after his venture capital firm increased its investment in rival prediction market Polymarket, Reuters reported. A Kalshi spokesperson said talks to end the role began in August, after 1789 Capital took the lead on a $1 billion Polymarket funding round. The round would value Polymarket at $21 billion, with 1789 Capital set to contribute about $300 million.
The spokesperson said politics played no role in the decision. Two people familiar with the matter told Reuters that some at Kalshi had raised concerns about what Democrats’ midterm sweep of both chambers of Congress could mean for the company.
