Donald Trump Jr. joins Kalshi prediction market as strategic advisor: Will he bet on Biden pardoning Fauci or Cheney?
A Personal Connection to Kalshi’s Success
In his announcement, Trump Jr. highlighted his personal connection to Kalshi, reflecting on his experience during the 2024 US presidential election. “On Election night at Mar-a-Lago, while biased outlets called the race a coin toss, my family and close friends used the prediction market @Kalshi to know we won hours ahead of the fake news media. I immediately knew I had to contribute to their mission. Today, I am proud to announce that I am joining Kalshi as a strategic advisor,” Trump Jr. stated.
His mention of Kalshi’s prediction accuracy on election night was a key aspect of his decision. Trump Jr. observed that while mainstream news outlets were undecided on the election outcome, Kalshi’s market had already indicated a win for his father hours before the official results. This conviction in Kalshi’s predictive abilities played a major role in his choice to get involved with the company.
Kalshi’s Legal Battle and Expanding Influence
Trump Jr. also praised Kalshi’s resilience, noting that the company had “worked hard, sued the Biden administration, and achieved the impossible feat of becoming the first and only legal prediction market in the US.” His comments refer to Kalshi’s successful legal battle with the CFTC, which had initially sought to block the market on the grounds of potential election interference. The CFTC argued that allowing betting on political races could result in corruption and spread misinformation. However, after a court ruling, Kalshi was granted the right to operate its platform, making it a trailblazer in the legal prediction market space.
Now fully operational, Kalshi allows users to make predictions on a variety of events, with political outcomes remaining a major focus. For instance, the platform currently offers betting options on which individuals President Biden will pardon before he leaves office, with figures such as Liz Cheney and Bennie Thompson featured in the betting pool.
Trump Jr.’s Role and Kalshi’s Expansion Plans
Kalshi’s co-founder, Tarek Mansour, shared with The Wall Street Journal that Trump Jr. will be advising the company on expanding its reach and establishing new partnerships. Mansour expressed confidence that Trump Jr.’s involvement will help Kalshi as it looks to “aggressively expand” its business.
While Trump Jr. has embraced this advisory role, he made it clear that he would not be joining his father’s administration. Instead, he is focusing on his other business ventures. These include his position as a board member at Trump Media & Technology Group, the company behind the Truth Social platform, and his involvement with 1789 Capital, a venture capital firm that focuses on conservative values and the “Republican/Parallel” economy. Additionally, Trump Jr. runs his own podcast, Triggered, on Rumble.
The Future of Prediction Markets
Kalshi’s platform has attracted attention not only for its innovative approach to betting but also for its legal battles and the groundbreaking decision to offer bets on political events. As interest in prediction markets grows, Kalshi is positioning itself as a leader in this emerging space. With the backing of influential figures such as Trump Jr., the company aims to expand its user base and continue offering a unique way to predict future outcomes.
As Trump Jr. takes on his new role, Kalshi’s potential for growth seems strong. His involvement is expected to bring further attention to the platform, and his strategic guidance could help it reach an even broader audience.
