Prediction market platform Kalshi has terminated its advisory contract with Donald Trump Jr. after his venture capital firm, 1789 Capital, led a funding round for rival Polymarket. A Kalshi spokesperson stated that discussions to end the contract began in August and described it as a mutual decision with no political considerations. Trump Jr. joined Kalshi as a strategic adviser in January 2025 and received company shares as part of the arrangement. Sources reported internal concerns that retaining the president's son as an adviser could expose the company to congressional scrutiny following Democrats' victories in both chambers during the midterm elections.