Kalshi has ended Donald Trump Jr.'s adviser contract, a spokesperson told Reuters on Thursday. The move came two days after Senators Elizabeth Warren and Jeff Merkley flagged his financial ties to prediction markets. Kalshi gave no reason. Trump Jr. received about $300,000 in Kalshi shares when the US-regulated platform was worth under $2 billion. It later raised at a $22 billion valuation and held talks near $40 billion. It is unclear whether he keeps the shares. He still advises Polymarket, Kalshi's main rival, which he joined in August 2025 when his firm 1789 Capital invested. The senators want White House answers by November 23.

Kalshi, a prediction market regulated by the Commodity Futures Trading Commission (CFTC), has launched perpetual futures on individual US stocks. It said it is the first company in the country to offer them. Trading volume topped $300 million within hours of the November 5 launch. Traders can take positions on more than 50 stocks listed on the NYSE and Nasdaq, including Palantir, Meta, SpaceX, and McDonald's. The launch followed a November 3 statement from CFTC chairman Michael Selig that such contracts could trade on registered exchanges. He said they give US traders an onshore option instead of "offshore, and often unregulated, venues." Kalshi charges a trading fee, does not use payment for order flow, and says its leverage is set under CFTC rules. It puts annual trading in single-stock perps at more than $4.5 trillion, all offshore until now.