Donald Trump Jr. has joined Kalshi as a strategic advisor, reflecting his interest in technology and financial innovation.
Kalshi, a platform for betting on real-world events, recently won court approval to list U.S. Congressional control prediction contracts.
This shows that Trump Jr. is becoming more interested in new technology and business ideas. Kalshi, which started in 2018, lets people bet on things that happen in the real world, like politics, the weather, and current events.
After U.S. courts allowed political betting last year, the platform became more well-known.
After going to court with the Commodity Futures Trading Commission, Kalshi was able to get permission to list prediction contracts on U.S. Congressional power.
The CFTC had originally said no, but a federal appeals court reversed that decision. This meant that the regulated startup could now offer these event markets.
In a post on the social media site X, Trump Jr. talked about why he chose to join Kalshi, stating how well the site predicted the 2024 presidential election. He said that Kalshi made things clear about the Republican win hours before mainstream media covered it.
People can bet on the results of certain events on prediction markets like Kalshi. Users can bet on things like how many executive orders a president will sign or how likely it is that the Senate will vote to confirm someone.
Polymarket is a well-known forecast market for current events. Both Kalshi and Polymarket use real-time data and the opinions of a large group of people to make predictions. These predictions are often more accurate and timely than those made by standard polls or news outlets.
