Donald Trump Jr. joins Kalshi as a strategic advisor

Key Takeaways

Donald Trump Jr. came. along with Kalshi as a strategic advisor for its prediction market platform.
Kalshi is the first legal prediction market in the US, competing with offshore operators like Polymarket.

Donald Trump Jr., the eldest son of President-elect 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 regulation of the Commodity Futures Trading Commission (CFTC).

The platform offers deals on real-world events, including elections, economic outcomes, and social topics.

Kalshi received a lot of attention in the recent election, as traders used the yes or no clauses to speculate whether Kamala Harris or Donald Trump would win the presidency.

On the eve of the election, Kalshi bettors estimated Trump's chances of winning at 55% – a prediction that was correct.

The accurate prediction in such a close race reinforced the credibility of prediction markets.

Adding to the platform's visibility, Donald Trump Jr. mention of his contribution to Kalshi's team in a post on X.

“On Election night in Mar-a-Lago, while biased outlets were calling the race a toss-up, my family and close friends used the Kalshi prediction market to know we won hours ahead of the fake news media,” he wrote. “I knew right away that I had to contribute to their mission.”

Kalshi contracts often reflect political and social dynamics in the world.

One of his most active deals recently was a yes-or-no bet on whether at least half a million immigrant deportations would be made in the first year of his administration Trump, with bookmakers estimating a probability of 53%.

The platform faces stiff competition from offshore operators such as Polymarket, which maintain higher trading volumes but operate outside CFTC regulations.

Despite its unregulated status, Polymarket has tried to establish a US compliant marketplace, even hiring former CFTC chairman J. Christopher Giancarlo, known as “CryptoDad,” from 2022.

according to Reuters, Polymarket recorded more than $3.1 billion in trading volume on presidential election bets, compared to Kalshi's $197 million in trading on its election product contracts.

Kalshi has not limited its offerings to election-related deals.

The platform has also introduced bets on unconventional topics, such as whether Donald Trump will buy a share of Greenland.

Another famous deal was considering whether Meta's Mark Zuckerberg would attend Trump's inauguration.