Donald Trump Jr. joins Kalshi as a strategic advisor
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Donald Trump Jr. has joined Kalshi as a strategic advisor for the valuation market platform. Kalshi is the first legal prediction market in America, competing with offshore operators like Polymarket.
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Donald Trump Jr., the eldest son of President Donald Trump, has joined prediction market platform Kalshi as a strategic advisor.
Kalshi operates as the first and only legal prediction market in the United States under the rules of the Commodity Futures Trading Commission (CFTC).
The platform offers bets on real-world events, including elections, economic outcomes and social topics.
Kalshi gained a lot of attention during the recent election as traders used yes-or-no contracts to predict whether Kamala Harris or Donald Trump would win the presidency.
On the eve of the election, Kalshi's pollsters predicted a 55% chance of Trump winning—a prediction that turned out to be accurate.
Accurate forecasting in such close competition has strengthened the credibility of prediction markets.
Adding to the platform's visibility, Donald Trump Jr. commented on the addition of Kalshi's team in a post on X.
“On election night in Mar-a-Lago, when biased outlets called the race a coin toss, my family and close friends used the prediction market term to predict we'd beat the fake news outlets hours before,” he wrote. “I immediately knew I had to contribute to their mission.”
Khalshi contracts often reflect real-world political and social dynamics.
One of the most active contracts of late was a yes-or-no bet on whether at least half a million immigrant deportations would happen in the first year of the Trump administration, with punters estimating a 53% chance.
The platform faces stiff competition from offshore operators such as Polymarket, which handle higher trading volumes but operate outside of CFTC regulations.
From 2022, former CFTC Chairman J.
According to Reuters, Polymarket recorded more than $3.1 billion in trading on presidential election bets, compared to $197 million trading in Kalshi's election outcome contracts.
Kalshi's choice is not limited to the terms associated with the choice.
The platform introduced bets on unusual topics such as whether Donald Trump would buy a portion of Greenland.
Another popular contract speculated whether Mark Zuckerberg would attend Trump's inauguration.
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