Donald Trump Jr. has secured an equity stake in Kalshi, the CFTC-regulated prediction market platform, as it moves toward a potential IPO.
He was appointed as a strategic advisor in January 2025. His venture capital firm, 1789 Capital, previously invested in Kalshi's rival, Polymarket.
This dual positioning gives Trump Jr. financial interests in the two largest U.S. prediction markets. The arrangement comes as his father, former President Donald Trump, has publicly supported the prediction market industry.
The elder Trump's stance has provided a federal counterweight as multiple states seek to classify these platforms as gambling operations, which would impose stricter regulations.
Kalshi is actively preparing for an IPO, expected in mid-2026. SEC filings at the time of the offering will disclose the specifics of Trump Jr.'s equity arrangement and any related-party transactions.