Don Jr. abruptly resigned from his strategic advisory role at Kalshi after his venture firm 1789 Capital invested $300 million in rival Polymarket, prompting fresh conflict-of-interest scrutiny.
Kalshi confirmed the split this week, citing the optics of him advising two competing prediction-market platforms while the Trump administration's CFTC continues to defend Kalshi in state-law battles.
The CFTC sued Arkansas yesterday, adding to a series of federal challenges against state regulators, while Kalshi is accused of running an illegal gambling operation in several states.
Senators Warren and Merkley sent a warning to the White House counsel on November 9, urging stronger ethics rules after the administration's teleprompter aide's insider-trading case, but no meaningful action has been taken.