"Kalshi CEO Mansour praised Donald Trump Jr. on 'Squawk Box,' saying, 'Don has consistently been at the cutting edge of these emerging areas and new technologies. He has a deep understanding of what the American public feels and desires.'
In a post on X, Trump Jr. pointed out the rapid response of prediction markets on election night, which indicated a Republican victory, as his motivation for partnering with Kalshi.
This collaboration with Kalshi marks another in a series of partnerships Trump Jr. has entered into following the election."
Prediction market company Kalshi has announced that Donald Trump Jr., the eldest son of the president-elect, will join as a strategic adviser.
Kalshi gained significant attention leading up to last year's election following a legal victory against the Commodity Futures Trading Commission, which cleared the path for legal election betting in the U.S. On Monday, Kalshi's CEO, Tarek Mansour, spoke about why Trump Jr. is a suitable addition to the team, citing his engagement with technology and innovative media.
Mansour stated, "Don has always been at the forefront at these types of spaces and new technologies. He’s always been very in tune with what the American people feel and want."
In a post on X, Donald Trump Jr. highlighted the rapid response of the prediction market on election night, which indicated a Republican victory long before mainstream media called the race, as his reason for wanting to collaborate with Kalshi.
“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,” Trump Jr. wrote.
This partnership with Kalshi is part of a series of engagements Trump Jr. has taken on since the election. In November, he joined the advisory board of drone manufacturer Unusual Machines, and in December, he became a board member at the e-commerce firm PublicSquare.
These associations coincide with a broader business community shift towards aligning with the incoming Trump administration. Notably, Meta Platforms CEO Mark Zuckerberg announced adjustments last week to ease speech limitations on the platform and scale back diversity programs.
During an interview Kalshi CEO Tarek Mansour countered the notion that hiring Trump Jr. was politically motivated, stating, “We’re not a political company in any way, shape or form. We’re a company that’s deeply obsessed with building a great prediction market that brings truth to the world.”
Mansour also discussed the significant growth in Kalshi's user base following the legalization of election betting, noting that these users have continued to engage with the platform post-election.
Current popular markets on Kalshi include predictions on potential presidential pardons by Joe Biden and daily temperature highs in cities like Chicago.
It's important to clarify that prediction markets and gambling platforms employ different methods than traditional political polling and should not be viewed as replacements for polls.
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