Kalshi, a prediction market company is adding the eldest son of the president-elect, Donald Trump Jr., as a strategic advisor. The company announced this a few days ago.
Kalshi rose to prominence ahead of the 2024 election after a court victory over the Commodity Futures Trading Commission. This decision paved the way for legal election betting in the United States. Kalshi CEO Tarek Mansour told CNBC recently that Trump Jr.’s interest in technology and new forms of media made him a strong fit for the company.
On Squawk Box, Mansour said that Don has always been at the forefront of these spaces and new technologies. He’s always been very in tune with what the American people feel and want.
Trump highlighted the swift reaction of the prediction market on election night to show a Republican win as a reason he wanted to work with Kalshi in a post on the social media site X.
Donald Trump Jr. wrote that on Election night at Mar-a-Lago, while biased outlets called the race a coin toss, his family and close friends used the prediction market Kalshi to know they won hours ahead of the fake news media. He immediately knew he had to contribute to their mission.
Between Trump Jr. and numerous companies, the Kalshi move is the latest in a string of postelection collaborations. In November, he joined the advisory board of drone-maker Unusual Machines. Last December, he joined the board of directors of e-commerce company PublicSquare.
In the middle of a broader shift by business leaders, those new roles come to embrace the incoming Trump administration. This includes Meta Platforms. Mark Zuckerberg, the CEO announced changes in the previous week to loosen speech restrictions on Facebook and roll back diversity initiatives within the company.
