Donald Trump Jr. has joined Kalshi, a CFTC-regulated peer-to-peer wagering exchange, as a strategic adviser. Kalshi allows users to bet on various outcomes, from elections to weather forecasts, through derivative contract markets.

Trump Jr.'s appointment follows Kalshi's accurate prediction of the 2024 presidential election, where the platform's bettors gave Donald Trump a 60% chance of winning, contrary to traditional polling data showing a closer race.

Founded in 2018 by Tarek Mansour and Luana Lopes Lara, Kalshi received its CFTC license in November 2020 and launched in July 2021. The platform's name means "everything" in Arabic.

The company recently won a significant legal battle against the CFTC, which had ordered Kalshi to withdraw its political betting markets in October 2022. A federal judge ruled that the CFTC had exceeded its authority, though the agency is appealing the decision.

With CFTC Chair Rostin Behnam's upcoming departure and the incoming Trump administration's deregulation agenda, Kalshi's position in offering election markets appears stronger. Trump Jr.'s advisory role further enhances the company's regulatory positioning.

The appointment may also signal continued scrutiny of Kalshi's competitor, Polymarket, which paid a $1.4 million CFTC fine in January 2022 for operating without proper authorization. Polymarket has its own DC connection through adviser Christopher Giancarlo, former CFTC chair during the first Trump administration.

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