Updated

Kalshi ended Donald Trump Jr.'s advisory role, and its CEO admitted the optics were not good, Ars Technica reported on November 13, 2026. Trump Jr. agreed to end the role shortly after his venture firm, 1789 Capital, made a $300 million investment in Kalshi's competitor Polymarket. Kalshi said the two had mutually agreed to the change and thanked him for helping market Kalshi to more customers. Trump Jr. had received equity while the Trump administration helped Kalshi in lawsuits, and he may still hold a financial interest in the company. The Financial Times reported in June that he was given about $300,000 of equity after joining as a strategic adviser in early 2025. Kalshi's CEO, Tarek Mansour, told MS Now that "we are facing sort of an optics issue, I think," and said the relationship was not political. Mansour also said Trump Jr. had no policy or regulatory involvement with Kalshi, and a Kalshi spokesperson said advising two competitors had complicated things for both firms.