Kalshi Awarded Donald Trump Jr. Shares Worth Approximately $300,000
The prediction market firm reportedly gave shares to Trump Jr. shortly after he joined as a strategic adviser early last year.
Prediction market Kalshi provided Donald Trump Jr. with approximately $300,000 worth of shares after he assumed the role of strategic adviser in early 2025, according to a report by the Financial Times.
The valuation of the shares was based on the company's worth at the time of the donation, which was less than $2 billion. This is a fraction of Kalshi's valuation of $22 billion in a recent financing round.
Trump Jr.'s stake is potentially positioned for further growth, as Kalshi is reportedly in discussions to secure additional funding at a valuation of around $40 billion, a process that could occur as early as the third quarter of this year.
Kalshi and its competitor, Polymarket, allow users to place wagers on the outcomes of various events, ranging from weather patterns to sports championships.
While Trump Jr.'s stake has been subject to dilution as Kalshi has expanded, making its current exact value difficult to ascertain, the initial award is noted. Kalshi declined to comment on the matter to the Financial Times, and Trump Jr. did not respond to the publication's inquiries.
Donald Trump Jr. joined Kalshi's advisory board in January 2025, announcing the move on X and stating that prediction markets like Kalshi had accurately indicated election outcomes ahead of mainstream media reports. He also joined Polymarket's advisory board in August of the same year. This coincided with a strategic investment in Polymarket by 1789 Capital, an investment firm where Trump Jr. is a partner.
Kalshi, led by CEO Tarek Mansour, has operated under a relatively lenient regulatory environment from U.S. agencies, some of which are led by Trump appointees, the report states. Prior to the 2025 election, the Commodity Futures Trading Commission (CFTC) had attempted to prevent Kalshi from offering event contracts tied to congressional elections. Kalshi achieved a court victory shortly before Election Day, and the CFTC subsequently abandoned its appeal in May 2025.
Additionally, an investigation by the CFTC and the Department of Justice into Polymarket for allegedly accepting wagers from U.S. customers despite restrictions was closed in the summer of 2025.