Donald Trump Jr. is reportedly sitting on a sizable paper gain after prediction market platform Kalshi handed him equity worth roughly $300,000 when he joined as a strategic adviser in early 2025.
Trump Jr. did not invest his own money. Kalshi granted him the stake when the company was valued at under $2 billion — less than a tenth of its $22 billion valuation in a funding round last month, the Financial Times reported on Friday, citing people familiar with the matter.
The company is also reportedly in talks to raise fresh capital at a valuation of around $40 billion as soon as the third quarter of this year.
The Regulatory Tailwind
Kalshi has been a direct beneficiary of the Trump administration’s light-touch approach to prediction markets. The Commodity Futures Trading Commission (CFTC), which had previously tried to halt Kalshi’s event contracts on congressional elections, dropped its appeal against the company in May 2025.
