Prediction market Kalshi terminates advisory contract with Trump Jr.

on November 13, according to BeInCrypto, prediction market platform Kalshi has terminated its advisory contract with Donald Trump Jr., the eldest son of the US President. A Kalshi spokesperson confirmed this to Reuters but did not disclose the reasons.

Two days prior, US Senators Elizabeth Warren and Jeff Merkley submitted inquiries to the White House regarding the financial relationship between Donald Trump Jr. and prediction markets. The report notes that Donald Trump Jr. previously acquired shares worth approximately $300,000 when Kalshi was valued at less than $2 billion, before the company later secured financing at a $22 billion valuation.

The report also stated that Donald Trump Jr. continues to serve as an advisor to competitor Polymarket.