Donald Trump Jr. joined prediction market operator Kalshi as an adviser Monday, deepening the firm's reach. Accepting American politics.
Kalshi's representative told Decrypt that the president-elect's son, Kalshi, will advise on partnerships and go-to-market strategy “as we expand the business and expand aggressively.”
Kalshi is a trading platform that allows users to place bets on a future event. His popularity soared when the debaters correctly predicted that Republican candidate Donald Trump would win the US presidential election.
“Don Jr.'s bold vision and deep expertise align perfectly with our mission to shape how America works with data. he said. In a post on X (formerly Twitter) on Monday. “His guidance will help accelerate our expansion and push prediction markets into the mainstream.”
A representative for Kalshi declined to disclose the terms of the settlement with Donald Trump Jr., including how Don Jr. would be compensated under the deal.
Kalshi is the first prediction market to legally offer US politics focused contracts to US traders. it has:: Continuously operating betting pools With US congressional races and presidential elections starting last October, a federal appeals court sided with the Commodity Futures Trading Commission, or CFTC, in a two-year court battle.
Since then, Kalshi has collected more than $500 million in salary on US presidential contracts, on Inauguration Day (January 20). basis to the website.
Lawyers for the commission tried to block Kalshi from offering a prediction market focused on American politics, arguing that the deal could undermine confidence in America's voting system. It's unclear, though, whether the addition of the president-elect's son will change Kalshi's control over the agency, depending on possible leadership shake-ups at the agencies.
Proponents of prediction markets say such data provide important insights into the democratic process, providing a warm indication of how voters feel about certain candidates. Traders on Kalshi and other platforms argue that predictions can provide a more accurate view of the outcome of future events than traditional polling data.
Edited by Andrew Hayward.
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