Trump Media enters prediction markets via Crypto.com

[The Buzz]

Trump Media and Technology Group has partnered with Crypto.com to launch "Truth Predict," a prediction market, directly within its Truth Social app.

This makes Truth Social the first social media platform to embed such markets, which will allow users to trade prediction contracts on both major sporting events and non-sporting events like political elections, commodity prices, and interest rates.

The deal highlights Trump’s growing ties to prediction markets. Donald Trump Jr. advises both Kalshi and Polymarket, while his firm, 1789 Capital, has invested in Polymarket.

From the press release:

Truth Social users will be able to trade prediction contracts related to major events and milestones, such as political elections, interest and inflation rate changes, commodity prices on gold and crude oil, events across all major sports leagues, and more using the new product technology called “Truth Predict.” Prices will update in real-time, allowing users to react instantly to developments in major current events.

“We are thrilled to become the world’s first publicly traded social media platform to offer our users access to prediction markets,” said Devin Nunes, Chairman and CEO of Trump Media. “Truth Predict will allow our loyal users to engage in prediction markets with a trusted network while harnessing our social media platform to provide totally unique ways for users to discuss and compare their predictions. With more than $3 billion in financial assets as of the end of the second quarter, and having posted our first quarter of positive operating cash flow after going public just last year, Trump Media is well-positioned to leverage our strong balance sheet and existing social media capabilities to create a new standard for access to prediction market platforms. For too long, global elites have closely controlled these markets - with Truth Predict, we’re democratizing information and empowering everyday Americans to harness the wisdom of the crowd, turning free speech into actionable foresight.”

The event contracts will be offered via CDNA, with the integration providing a federally compliant way to access CDNA event contracts and make predictions on the outcomes of events, including politics, economics, financials, and sports - all seamlessly woven with technology from Truth Social.

Read more here: https://www.gpwa.org/article/truth-s...markets-261565

[chaumi]

That would seem to suggest Nevada's attempts to outlaw prediction contracts markets are doomed?

[NoDepositCasinos]

That would seem to suggest Nevada's attempts to outlaw prediction contracts markets are doomed?

It seems so. Before Trump won, many in the industry argued that his victory would be beneficial to the industry, as he’s fundamentally a businessman. Initiatives like this align with that view, and I expect (and hope for) more developments along these lines.

[universal4]

Great point chaumi,

Time will tell, but have you been able to convince a book to carry that? LOL

Rick
Universal4