Donald Trump Jr. joins Kalshi as new Strategic Advisor
The company described his appointment as ‘an important addition’ to the team.
Key Points
- Following the recent election, Trump Jr. expressed an interest in become part of the company
- Kalshi said that it believes Trump Jr. will being a fresh perspective
Kalshi has appointed Donald Trump Jr. as its new Strategic Advisor.
The company said in a statement, “With his extensive business experience and influence, Don Jr. brings a fresh perspective to Kalshi as we continue to push prediction markets into the mainstream.
“This important addition to our team marks a major milestone for the future of Kalshi – and for how Americans uncover the truth in today’s fractured, often biased media landscape.”
Trump Jr. took a moment to explain his motivation for joining the company as an advisor in a recent social media post.
He commented, “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.”
Both parties faced off in court over the issue of whether American would be allowed to bet on the outcome of the November election.
Federal judge Jia Cobb ruled in favor of allowing Americans to bet on the outcome of the upcoming US election. Following the ruling, Kalshi set up election betting venues for US players.
Good to know: Kalshi was involved in a recent legal battle with the Commodity Futures Trading Commission (CFTC)
However, the CFTC appealed Cobb’s ruling within hours of the decision and all election betting options were removed from Kalshi’s website.
Lawmakers expressed concern for voters and noted that rebuilding trust should be prioritized over a focus on wages.
They also said that allowing election betting could potentially create mistrust in the election process and sent a letter to the CFTC that outlined their concerns.
Prior to Judge Cobb’s ruling to allow election betting, the CFTC had ordered Kalshi not to offer derivatives that would allow players to wager on the election.
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