Trump Media Enters Prediction Market Space With Launch of Truth Predict
President Donald Trump’s media firm, Trump Media, has announced that it’s heading into the prediction markets area, competing with the likes of Kalshi and Polymarket.
The new characteristic, referred to as Truth Predict, will let Truth Social customers make wagers on issues like elections, rate of interest adjustments, sports activities outcomes and extra – with costs updating in actual time as occasions unfold.
Truth Predict can be powered by Crypto.com Derivatives North America (CDNA), a federally registered change and clearinghouse.
The transfer will make Truth Social the primary social media platform to supply fully-integrated prediction markets in a compliant method.
‘Turning Free Speech Into Actionable Foresight’
Trump Media CEO Devin Nunes says the objective is to “democratize data and switch free speech into actionable foresight,” saying that prediction markets have lengthy been dominated by institutional gamers.
The firm plans to start beta testing quickly, then absolutely launch within the US earlier than increasing to the worldwide market.
Backed by Crypto.com Infrastructure
Crypto.com CEO Kris Marszalek mentioned the partnership is a “good match” for Truth Social, because it combines social engagement with real-time market sentiment.
The two firms even have a broader partnership in place involving the CRO token, with plans to create a crypto treasury and rewards system throughout Trump Media platforms.
Prediction Markets Meet Social Media
Once it’s dwell, Truth Predict will let customers commerce contracts tied to political, financial and sports activities outcomes – all from inside the Truth Social app.
Additionally, customers who earn Truth gems – Trump Media’s model of reward factors – by exercise on Truth Social or the Truth+ streaming app, will be capable to convert these gems into CRO tokens.
They will then be capable to be used to purchase prediction contracts.
Prediction Markets Are Booming
Trump Media says it’s in a robust place to scale, reporting over $3 billion in belongings and its first quarter of optimistic working money movement since going public.
The transfer comes after a report surge in exercise throughout different prediction platforms like Polymarket and Kalshi, the place weekly trading volumes have not too long ago surpassed their peaks seen through the 2024 election.
Still a Gray Area
Despite their fast rebellion, prediction markets nonetheless stay a grey space in US legal guidelines and rules.
Platforms like Kalshi are currently fighting state regulators over whether or not betting on occasions through prediction markets counts as playing or qualifies as monetary market exercise.
Trump Media’s transfer alerts that prediction markets – as soon as only a blockchain experiment – could also be secure for now.
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