A Reuters spokesperson reported this Thursday, November 12, that Kalshi put an end to Donald Trump Jr.’s advisory contract. The departure of the U.S. president’s son occurs just 48 hours after U.S. Senators Elizabeth Warren and Jeff Merkley publicly pointed out the financial ties and potential conflicts of interest of the presidential scion.
The legislative scrutiny targets ethical safeguards and regulatory impartiality in a booming industry. Trump Jr. received approximately $300,000 in shares when Kalshi was valued at under $2 billion, a valuation that currently sits around $22 billion. Furthermore, the businessman retains his seat on the advisory board of Polymarket, Kalshi’s main decentralized rival, following an investment by his firm 1789 Capital.
With the Kalshi contract terminated but his role at Polymarket remaining active, market attention now shifts to the official response that the White House must deliver to the Senate before next November 23.
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