Donald Trump Jr. joins Kalshi as an adviser

What they're saying: "Don has always been at the forefront at these types of spaces and new technologies. He's always been very in tune with what the American people feel and want," Kalshi CEO Tarek Mansour said on CNBC.

• The president-elect's son said on X that Kalshi made it clear much earlier than cable news that his father had won re-election.

What we're watching: Whether or not the Commodities Futures Trading Commission continues to pursue its case against the company.

• Trump hasn't yet named a new CFTC chair.
• He has, however, appointed a former Kalshi staffer and member of his prior administration to a high-level position in Treasury: Samantha Schwab will be its deputy chief of staff.

Friction point: Trump Jr. signed on with a non-crypto prediction market, despite the new administration's warm embrace of cryptocurrencies.

• The prediction market with the most volume in the election (billions vs. hundreds of millions) was Polymarket, but its founder is currently under legal scrutiny.