Kalshi has asked the CFTC to let some users bet with borrowed funds, saying it could draw institutions to long-dated markets. The Financial Times reports Donald Trump Jr. received about $300,000 in equity in 2025.
Trump Jr. joined Kalshi as a strategic adviser in January 2025, when the company was valued at less than $2 billion. A May 2026 company release put Kalshi’s valuation at $22 billion. Citing unnamed sources, the Financial Times said his stake had since been heavily diluted by new equity issuances; its current value is unknown. Neither Trump Jr. nor Kalshi responded to Moneywise’s requests for comment.
Kalshi told CNBC it would exclude sports, culture and “mention” markets from margin trades; it already has permission for leverage on perpetual futures. The Wall Street Journal reported Kalshi also seeks approval for perpetual futures tied to individual stocks. Better Markets’ Benjamin Schiffrin warned of potentially huge losses for individual investors. Trump Jr. also advises Polymarket. Some have questioned the administration’s perceived support for prediction markets through the CFTC, which has backed platforms in state gambling lawsuits; neither the White House nor CFTC responded to Moneywise’s conflict-of-interest questions.
