Kalshi Severs Its Relationship With Donald Trump Jr.

What happened: Kalshi said Donald Trump Jr. would no longer serve as an adviser. The firm and Trump Jr. agreed to part ways because his investment firm, 1789, had heavily invested in Polymarket, Kalshi's biggest competitor. Key numbers: 1789 added about $300 million to its Polymarket investments in August, on top of earlier contributions of about Why it matters: Kalshi said advising two competitors in a growing sector was complicating things. The split comes as Democrats in Congress promise to investigate allegations of self-dealing, with critics citing federal approvals given to Kalshi. Coverage: 7 outlets in 24h

Kalshi said Donald Trump Jr. would no longer serve as an adviser. The firm and Trump Jr. agreed to part ways because his investment firm, 1789, had heavily invested in Polymarket, Kalshi's biggest competitor.

Kalshi said advising two competitors in a growing sector was complicating things. The split comes as Democrats in Congress promise to investigate allegations of self-dealing, with critics citing federal approvals given to Kalshi.