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Kalshi ends Trump Jr advisory role after Polymarket investment

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Kalshi and Donald Trump Jr mutually agreed to end his advisory role after his venture capital firm invested in rival Polymarket. Kalshi said the decision followed the firm’s $300m investment in Polymarket in August, while reports said Kalshi was seeking another $1bn funding round at a $65bn valuation.

Investors should consider how the $300m Polymarket investment ended Trump Jr’s Kalshi advisory role and coincided with reported fundraising plans.

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Kalshi and Polymarket step up US lobbying as states challenge event contracts

Kalshi and Polymarket are increasing US lobbying as states contest whether sports-event contracts fall under gambling laws, a report by advocacy group Demand Progress says. The group says Kalshi spent $1.8m lobbying in the first half of 2026, nearly three times its reported total for 2025, and describes political hires at both companies. Federal appeals courts have reached conflicting conclusions on state authority, leaving the issue unresolved.

Kalshi and Polymarket are reportedly increasing lobbying and recruiting political figures as they contest US states’ attempts to regulate sports-event contracts as gambling. A ruling allowing state laws to apply could require operators to obtain licences, follow local consumer protection rules or leave some jurisdictions.

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