Donald Trump Jr. joins Kalshi as a strategic advisor

Donald Trump Junior, the oldest son of the incoming U.S. President Donald Trump, has taken on a strategic advisory role at the prediction market platform called Kalshi.

Trump Jr.’s recent involvement showcases a burgeoning fascination with technology and financial creativity, particularly in the realm of innovation. Kalshi, established in 2018, provides an opportunity for users to wager on real-life occurrences, encompassing politics, weather, and current events. This platform has garnered attention following the U.S. courts’ approval of election betting last year.

As an analyst, I can share that Kalshi has successfully navigated a legal challenge against the Commodity Futures Trading Commission (CFTC) and received court approval to list prediction contracts on U.S. Congressional control. Previously, the CFTC had denied this opportunity, but a federal appeals court overturned their decision, paving the way for Kalshi – under regulatory oversight – to introduce these event markets.

Donald Jr.’s daring perspective and extensive knowledge seamlessly match our goal to revolutionize the way America handles information.

His advice will significantly speed up our growth and propel prediction markets towards becoming a common practice.

— Kalshi (@Kalshi) January 13, 2025

On social media platform X, Donald Trump Jr. shared why he decided to team up with Kalshi. He pointed out that this platform had been remarkably accurate in predicting the outcome of the 2024 presidential election, even providing insights about the Republican win long before mainstream news organizations confirmed it.

Donald Trump Jr. quickly realized he wanted to support their cause,” Trump Jr. expressed, commending Kalshi’s method of providing information via prediction markets.

In simpler terms, platforms such as Kalshi enable individuals to place bets based on the results of particular occurrences. For example, users might wager on how many executive orders a president is expected to issue or the probability of a Senate confirmation vote passing.

One well-known prediction market for current events is Polymarket. Similar to Kalshi, it employs real-time data and collective opinion to calculate probabilities, frequently delivering insights quicker than conventional surveys or media sources.

Kalshi and crypto

1) Kalshi began accepting deposits using the stablecoin USDC (USDC), making cryptocurrency a part of their services. Conversely, Polymarket is a prediction market operating on blockchain technology that uses cryptocurrencies for transactions, focusing on various topics such as politics and global events. Notably, it gained popularity during the 2024 U.S. elections; however, it has encountered regulatory difficulties in the United States.

The two systems emphasize the increasing link between prediction markets and digital currencies within the field of decentralized finance. While Kalshi follows regulatory standards, Polymarket makes use of blockchain’s decentralized attributes, providing distinct methods for wagering on events in the cryptocurrency sector.

Read More

2025-01-13 21:25