GoKawiil
Tech News
Prediction-market platform Kalshi has parted ways with Donald Trump Jr., who had served in an advisory capacity. The company said in a statement that it was grateful for his help marketing Kalshi to more customers.
According to Politico, Democratic lawmakers including Rep. Maxine Waters and Sen. Jeff Merkley are preparing legislation to curb prediction markets, framing them as predatory gambling platforms harming consumers. The move comes as Donald Trump Jr. holds advisory roles at Polymarket and Kalshi, platforms that have also seen traders profit from advance knowledge of administration decisions.
Polymarket has reportedly raised $300 million from 1789 Capital, an investment fund with Donald Trump Jr. as a partner, as part of a roughly $1 billion funding round according to the Wall Street Journal. This adds to a prior $200 million investment from the same fund, which has also backed other controversial ventures like the Enhanced Games.