Prediction market platform Calci has ended its advisory agreement with Donald Trump Jr. after his venture capital firm 1789 Capital also owns a stake in rival platform Polymarket, according to a Calci spokesperson.
Conversations about Trump Jr.’s departure began in August, when 1789 Capital announced a major investment in Polymarket, a spokesperson said. It was a mutual agreement, he said, adding that Mr. Carsi and Mr. Trump Jr. agreed that it was a conflict of interest to retain the president’s son as an advisor while serving as Polymarket’s lead investor.
Trump Jr.’s departure from the party comes after Democrats secured a majority in both houses of Congress, and the party is expected to crack down on the prediction market industry. Trump Jr. has left Calci but remains an advisor to Polymarket. Joseph Konizeski, a former CFTC trial attorney, previously told CNBC that his industry ties could make prediction markets an attractive target for lawmakers.
In early October, Karshi CEO Tarek Mansour told MS NOW that Trump Jr.’s ties to the company pose “optical problems,” but added that he had never relied on that relationship to gain government support.
Mr. Carsi first appointed Donald Trump Jr. as a strategic advisor to the company in January 2025.
Disclosure: CNBC and Kalsi have a commercial relationship that includes customer acquisition and minority ownership.
