FLUSHED OUT

Don Jr. Dumped From Lucrative Job Days After Blue Tsunami

The president’s eldest has left a booming company just as Democrats vow to investigate the Trump family’s business dealings.

Donald Trump Jr. has lost his lucrative gig at the prediction market Kalshi.

The 48-year-old’s exit from the company comes as newly empowered Democrats have vowed to investigate President Donald Trump and his family’s business dealings with the prediction industry and crypto markets.

However, a Kalshi spokesperson said Don Jr.’s departure was a response to his venture capital firm, 1789 Capital, increasing its stake in rival prediction market Polymarket.

“We have mutually agreed to end Don’s advisory role after his firm’s significant investment in a competitor this past summer. We are grateful for his contributions in helping us market Kalshi to more customers,” the spokesperson told the Daily Beast, adding that conversations to end Don Jr.’s contract started in August.

A representative for Don Jr. did not immediately respond to a request for comment.

Don Jr.’s role as a “strategic advisor” to Kalshi drew scrutiny from the moment he was hired in ​January 2025, days before his father’s second inauguration.

At the time, Kalshi gave Don Jr. roughly $300,000 worth of shares, according to The Financial Times, a stake that has since likely ballooned in paper value as the company’s valuation surged from less than $2 billion to $40 billion.

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Kalshi first gained prominence in 2024, when its odds consistently suggested a Trump victory even as polls showed a close race.

Since then, the company has experienced meteoric growth as Trump and his regulators embraced prediction markets, opening the door to a flood of new wagers that were previously off-limits. The Trump administration has also moved aggressively to protect prediction markets, including suing states that are trying to ban the markets under no-gambling laws.

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But the industry’s regulatory honeymoon may be coming to an end after Democrats won control of both the House and the Senate in the midterms, as predicted by bettors on Kalshi.

“Folks are rightfully concerned about dangerous bets on elections, war, assassinations, terrorism, and government actions that go against the public interest,” Oregon Sen. Jeff Merkley told Politico. “We need to rein in this gambling, and with Democrats taking back control of Congress, now is the time for long-overdue legislative action.”

Meanwhile, Massachusetts Sen. Elizabeth Warren, who is poised to be the next chair of the Senate Banking Committee, questioned the “legitimacy and regulation” of election-related prediction markets in a letter to Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan. Utah Sen. John Curtis, a Republican, co-authored the letter.

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Democrats, who will have the power to compel testimony and demand documents next year, are also gearing up to scrutinize Don Jr. and the Trump family.

California Rep. Robert Garcia, who is set to become chairman of the House Oversight Committee, has singled out Don Jr. in particular.

He declared in a video posted on X two days after the election, “Democrats are ready to take on all of it; to take on the crime family that is sitting in the White House, to take on the large corporations ripping off the American taxpayer.”

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