Mentioned:
HOOD -6.63% UMAC -18.31%
Prediction markets have been one of the most exciting areas of technology in America. And Donald Trump Jr is getting involved next.
What’s happening:
- Donald Trump Jr has joined prediction market startup Kalshi as an official advisor
Why it matters:
- Kalshi is the first prediction market to win official regulatory approval in the United States of America and become full compliant with the Commodity Futures Trading Commission
- Prediction markets have become a large business opportunity, which even pushed popular brokerage and trading platform Robinhood (NASDAQ: HOOD) to make their first foray into the space around the America presidential election
Going deeper:
- Donald Trump Jr has been making a flurry of moves focused on getting involved with startups and publicly traded companies lately, including previously joining drone company Unusual Machines (NASDAQ: UMAC) and just recently leading firearm marketplace GrabAGun into a SPAC transaction to become listed on the New York Stock Exchange
