Kalshi cut ties with Donald Trump Jr

[sunsilk]

Back to Kalshi and Trump Jnr, it’s all political rather than what they are actually claiming; it’s been months, if not up to 3 months, when 1789 Capital made the investment increase in Polymarket. Did they take action and wait until when the father is on a hot seat in terms of deciding his next move, and when there is an investigation coming to the family at large, not just Trump Jnr?

It doesn't look political to me but rather than conflict of interest. While there's the political influence from his dad and his addition to the firm given his status as a senior partner gives a raise to them.

But someone who works as an advisor for both companies that shares the same market doesn't look soothing for both kalshi and polymarket.

Despite that political and financial capital, a company that's also thriving in the industry won't feel comfortable if someone is on board while working for their competitor.

[Asuspawer09]

It was for sure something that is obvious that a lot of people are going to see so it was the best way just to drop it that they are cutting the ties with Donald Trump, There are for sure rumors already so they probably predicted this already since the democrats and already winning so they maybe expect it and did the safe thing for there platform.

I mean Donald Trump for some have a lot of political things and business going on so this can easily be link on the platform, maybe they are aware of the shady things on Trump so they take the safe route just to protect the image of the platform, it was going to be a huge problem if the platform was link to Trump since there will be a lot of hearing that is going to happened if something comes out.

[aioc]

So, I just saw this news recently. Apparently, after the Democrats took over the house and Senate in the midterm elections, they decided to launch an investigation on Donald Trump jr. and his investments especially in polymarket—kalshi precisely. Although kalshi framed it as "cutting ties because he invested in a rival company", but an article in the guardian—the source I got the news from—claims since the announcement came in just a week after the Democrats decision to investigate him, it seems like a convenient timing.

This is a game of politics; they don't want anything to do with Trump Jr. because his father does not have power in either house anymore, and they want to satisfy the Democrats at the expense of Trump Jr., You never work on someone who has a stake in your competitor; they only hire Trump Jr. because of the power they used to yield and now that its gone so their partnership should be dissolve.
In any business, you should associate yourself with those in power so you will get the favor that you want, and you know when or how to make a shift, when there is a power shift, and Kalshi will do it to survive  .

[BALIK]

But the announcement comes a week after Democrats were able to take control of both the House and Senate in the midterm elections.

I wouldn't dismiss any political aspect entirely. But, I do not think that Kalshi removed Trump Jr only for political pressure, because this announcement came after Democrats election victory.

Actually I think both sides should be considered. Kalshi may have really wanted to resolve their Dual-advising competing prediction business conflict. Perhaps shift in political terrain has also made the prospect of keeping Trump Jr on as adviser even more uncomfortable for them.

Regardless of which party is in power, investigation backed by solid evidence should be conducted to determine whether these political connection and financial ties influenced any regulatory decision concerning prediction markets.

[stompix]

Kalshi decision translated for plebs:

- We bribed the shit out of this and he did everything he could for us
- Right now, bribing him more when they lost control might be getting us in trouble and we don't want this
- Our partners should now worry as we're actively looking forward to finding a Democrat middleman to keep bribing decision-makers to keep us afloat

Also he had already been on Polymarket's advisory board even earlier.
But at that time, conflict of interest involving Kalshi didn't come to mind nor did they immediately exclude him!

You don't have a conflict of interest while you're the one leading things.
You don't bring up conflicts of interest discussions when the one you might accuse is the son of a president who is a bit more than nuts.

[2stout]

Kalshi read the writing on the wall after the election bloodbath resulting in a bluenami.  They see the writing on the wall and want to distance themselves, get in front on the narrative for the most likely upcoming investigations of the trump syndicate.  The conflict of interest they brought up is a PR statement.

[yahoo62278]

So, I just saw this news recently. Apparently, after the Democrats took over the house and Senate in the midterm elections, they decided to launch an investigation on Donald Trump jr. and his investments especially in polymarket—kalshi precisely. Although kalshi framed it as "cutting ties because he invested in a rival company", but an article in the guardian—the source I got the news from—claims since the announcement came in just a week after the Democrats decision to investigate him, it seems like a convenient timing.

Donald Trump Jr is no longer a paid adviser for Kalshi, the prediction market company said Thursday.
Kalshi described it as a mutual business decision between the two parties that followed a decision by Trump Jr’s investment firm, 1789 Capital, to increase its investment in Kalshi’s biggest competitor Polymarket.
But the announcement comes a week after Democrats were able to take control of both the House and Senate in the midterm elections.
Democrats have said they planned to investigate the Trump family’s investments, including their business relationships with both prediction markets.
“We have mutually agreed to end Don’s advisory role after his firm’s significant investment in a competitor this past summer,” said Dani Lever, a spokesperson for Kalshi. “We are grateful for his contributions in helping us market Kalshi to more customers.”

(Source)

The company is doing what they can to keep the eyes off of them, simple as that IMO. Trump jr is getting investigated and they know that means they will dig into every aspect of his life, including all financials.

They probably will still be looked at in some capacity, but cutting ties might make the dive into their financials minimal.

[Outhue]

Something is brewing up here, maybe they are running for the safety exit? If democrats have their chances they will go after every connections tied with the Trump family, they reckoning days are coming it seems, I'm sorry to say it but the Trump family is dirty, crypto and prediction market related dirty I meant, I don't believe that Trump Jr is just an advisor and that's it, there is more to that connection, if there was no funny thing going on there will be no need for Kalshi to cut the tie here.

[Kelward]

Many of us believe that kalshi's decision to cut off ties with Trump jr. at this timing goes beyond ending a business deal for business reasons being that Trump jr. is also dealing with their biggest competitor being Polymarket, although that in itself is unethical because you cannot be promoting two companies who are competitors. There major reason for cutting off ties with Trump jr. should be what most of us are thinking which is political, they must have weighed the possibility of a majority Democrats probing the young man which can affect his business allies. Ofcourse their business is prediction and they must have seen that continuing their partnership with Trump jr. is no longer good for their business.

[Nathrixxx]

So, I just saw this news recently. Apparently, after the Democrats took over the house and Senate in the midterm elections, they decided to launch an investigation on Donald Trump jr. and his investments especially in polymarket—kalshi precisely. Although kalshi framed it as "cutting ties because he invested in a rival company", but an article in the guardian—the source I got the news from—claims since the announcement came in just a week after the Democrats decision to investigate him, it seems like a convenient timing.

When things like these are happening, it shows that there are some who serve as actors behind the curtain playing game with other s intelligence, that you see them making this public declaration shows that things of gone wrong from within their internal affairs the heart together and they are making it known to communicate it more better this manner, kalshi or polymarket it's not a game of trust as so many people will admit.

[SatsPH]

It's all business after all, and it's good to cut ties with him as he is also with the competitor. So at the end of the day, they think that having Trump is not going to be beneficial to them in the long run.

So I don't see anything wrong with it, although the timing but be sort of questionable. But that's it's nothing personal and it's all business to this businessman and for sure Trump will have understand it.

[xenomorfo]

A lot of people attribute this development to conflict of interest but the coincidence is just too glaring. No doubt he was working for two competitors, one as a nig investor and the other as adviser, both were ok with that until recently when the election was done, they realised it was conflict of interest, such a lame excuse. Ending the contract may definitely mean he has served his putpose and they don't find him helpful for them anymore.

We are talking about Donald Trump's son, let's say a person not very famous for his way of thinking, operating and respecting people (especially women).
In my opinion, it was inevitable that the idyll would end and in the worst way, you can't be friends with these people for long.

[Die_empty]

If we are to look at it from the business and contract standpoint, was it part of their contract that he won’t invest his asset in anything that appears to be in competition with them? Where I can say it’s right to cut him off based on the contract, which was after his company made a $300m investment in Polymarket, he also became part of the advisory board, which doesn't stand right to be on two sides considering the amount of information he can gain and share at will with any side.

Based on this report, Donald Trump Jr company, 1789 Capital, has invested about 500 billion dollars in Polymarket.  Both companies agreed to make him part of them for protection and political gains. I don't see how two competing firms would hire one person if not for some ulterior motives. I foresee that the investigation into Trump's family will open some cans of worms. They have really taken advantage of the presidential seat to amass massive wealth.

[DubemIfedigbo001]

Serving as advisor for two competing prediction market will inevitably create image problem at some point. Especially when gap in market value between two company has widened to such an extent.

It doesn't make sense and interests can come in the way, especially when the two are fierce competitors. I don't blame Kalsi, personally I would be on my toes knowing he's working with a competitor and increasing their investment in Polymarket shows more priority to an obvious competitor and it's a good thing ending his role so that his interests don't affect Kalshi adversely.

But timing of this decision coming right after midterm election seems quite convenient. Regardless of which party holds majority in Congress, prediction market remain highly politically sensitive and controversial. And hiring president's son as paid employee was like double edged sword from the very beginning. Lets see whether he will be able to retain Kalshi equity or if that share will also be taken back.

Yeah it's an obvious advantage but trusting one side with more investments clearly shows on who's side he's on. I don't really think it has much to do with the midterm elections. They made the right call, maybe they've found a good replacement from the Democrats camp to backup their interests for the remainder of Trump's tenure.

[danherbias07]

So it finally happened.

Obviously, it's a conflict of interest. It's like he is rowing two boats with only 1 body and two hands. It cannot work, especially when both boats are in the same industry. Even if he is just a paid advisor, it is still a conflict because 1789 Capital is invested in Polymarket, and it's not a small amount.

I think what Kalshi did here was just the right thing. Plus, it will probably boost their popularity now that they are on the trend.

[YellowSwap]

Serving as advisor for two competing prediction market will inevitably create image problem at some point. Especially when gap in market value between two company has widened to such an extent.

It doesn't make sense and interests can come in the way, especially when the two are fierce competitors. I don't blame Kalsi, personally I would be on my toes knowing he's working with a competitor and increasing their investment in Polymarket shows more priority to an obvious competitor and it's a good thing ending his role so that his interests don't affect Kalshi adversely.

But timing of this decision coming right after midterm election seems quite convenient. Regardless of which party holds majority in Congress, prediction market remain highly politically sensitive and controversial. And hiring president's son as paid employee was like double edged sword from the very beginning. Lets see whether he will be able to retain Kalshi equity or if that share will also be taken back.

Yeah it's an obvious advantage but trusting one side with more investments clearly shows on who's side he's on. I don't really think it has much to do with the midterm elections. They made the right call, maybe they've found a good replacement from the Democrats camp to backup their interests for the remainder of Trump's tenure.

We learn new things everyday, please don't mind me asking you this, as an adviser is it wrong to be in two or more companies that are doing the same thing or rendering same services to people?

He as an adviser can't be adviser for two online gambling platform? He can't be adviser for Samsung and Apple at the same time even if he is siding one more than the other? I just want to know.

Because I don't even want to believe that this is why Kalshi cut their ties with Trump Jr.

[asriloni]

Is not it too late? He should have stepped down as advisor for gambling sites such as Kalshi and Polymarket because democrets will be hammering him so hard for all of regulations he breaks with his crony. I believe Democrats will continue the investigation, and this is gonna be the end of him as well as all of gambling sites so called prediction market he invested.

There is a possibility for this to be an interest conflict, but i truly support democrats for this.

[Hispo]

So, I just saw this news recently. Apparently, after the Democrats took over the house and Senate in the midterm elections, they decided to launch an investigation on Donald Trump jr. and his investments especially in polymarket—kalshi precisely. Although kalshi framed it as "cutting ties because he invested in a rival company", but an article in the guardian—the source I got the news from—claims since the announcement came in just a week after the Democrats decision to investigate him, it seems like a convenient timing.

Donald Trump Jr is no longer a paid adviser for Kalshi, the prediction market company said Thursday.
Kalshi described it as a mutual business decision between the two parties that followed a decision by Trump Jr’s investment firm, 1789 Capital, to increase its investment in Kalshi’s biggest competitor Polymarket.
But the announcement comes a week after Democrats were able to take control of both the House and Senate in the midterm elections.
Democrats have said they planned to investigate the Trump family’s investments, including their business relationships with both prediction markets.
“We have mutually agreed to end Don’s advisory role after his firm’s significant investment in a competitor this past summer,” said Dani Lever, a spokesperson for Kalshi. “We are grateful for his contributions in helping us market Kalshi to more customers.”

(Source)

The timing of this decision does not lie. This was likely done because of political manouvers since now democrats have managed to take over the Senate and the house of representatives.

Kalshi obviously wants to distance itself from Donald Trump and his family in order to get damaged by a future investigation led by democrats.

I would not be surprised if Polymarket started to get some distance from Donald Trump family as well.

[Mr_Brilliant$]

The timing is important here. As the democrats took over, so the kalashi cut ties with trump jr. Just maybe the Trump's family as had their hands in some shady things. Hope it doesn't get to that. In the mean time, seems Trump is loosing woefully. Cutting ties now might save their asses if any shady thing is found about Trump jr. Another thing to even look out for is that he is advising two companies that are competing against each other. Make that make sense. For the fact that the two companies actually agreed to do that shows how powerful Trump jr is. I think it because of his father that thing even happened in the first place.

[Questat]

That seems right as there's a conflict of interest, since Trump Jr. is an investor in Polymarket and also an adviser. Actually Trump Jr. should have been the one to cut ties, Kalshi should not have been the one to make that move, it's expected actually. So what can we expect now, will Polymarket be favored more than Kalshi, we don't know, we can speculate but we cannot be sure.

Not sure what the impact of this news will be on Kalshi, but it's relevant especially since Trump Jr. is quite controversial so it remains to be seen.
Actually those related to the president should be prevented from investing in businesses like this as it could create bias.