Donald Trump Jr. is appointed as a strategic advisor to Kalshi, a prediction market firm.

• "Tarek Mansour, CEO of Kalshi, stated on "Squawk Box" that Don has consistently been at the forefront of new technologies and spaces, and has always been attuned to the desires of the American people."
• Trump Jr. emphasized the prompt response of the prediction market on election night indicating a Republican victory as a motivation for collaborating with Kalshi on social media platform X.
• Various companies have formed postelection partnerships with Trump Jr., the latest being the Kalshi move.

The company Kalshi has appointed Donald Trump Jr., the president-elect's eldest son, as a strategic advisor, as announced on Monday.

After a court victory that legalized election betting in the U.S., Kalshi gained prominence in the runup to the election last year. Kalshi CEO Tarek Mansour stated on Monday that Trump Jr.'s interest in technology and new forms of media made him a suitable candidate for the company.

"Mansour stated on "Squawk Box" that Don has consistently been at the forefront of new technologies and spaces, and has always been attuned to the feelings and desires of the American people."

Trump Jr. emphasized the prompt response of the prediction market on election night indicating a Republican victory as a motivation for collaborating with Kalshi on social media platform X.

"On Election night at Mar-a-Lago, my family and close friends used the prediction market Kalshi to know we won hours ahead of the biased outlets that called the race a coin toss. I immediately knew I had to contribute to their mission," Trump Jr. wrote.

In recent months, Trump Jr. has formed partnerships with various companies, including Unusual Machines and PublicSquare.

The incoming Trump administration has prompted business leaders, including CEO Mark Zuckerberg, to shift their focus towards loosening speech restrictions on Facebook and rolling back diversity initiatives within the company.

In the "Squawk Box" interview, Mansour refuted the notion that inviting Trump Jr. to the board was motivated by political reasons.

Mansour stated that the company is not political in any aspect.

He stated that the company is highly focused on developing a top-notch prediction market that promotes accuracy.

The CFTC, which regulates Kalshi, has commissioners appointed by the president and serving five-year terms. The CFTC is currently challenging a ruling that permitted Kalshi to offer election bets.

Since election betting was legalized, Mansour stated that Kalshi has experienced significant growth in users. These new users seem to be sticking around now that the election has ended. The most popular markets on the site currently involve potential pardon recipients from President Joe Biden and the daily high temperature in cities, including Chicago.

Political polls and odds and gambling platforms employ different methodologies, so they cannot be considered interchangeable.