Truth Social to launch prediction markets with Crypto.com partnership through deal

US President Donald Trump’s media company says it plans to add prediction markets to Truth Social through an exclusive partnership with Crypto.com’s Derivatives North America unit, which is a CFTC registered exchange and clearinghouse.

What is Trump’s new prediction market called?

According to both Trump Media and Technology Group Corp and Crypto.com, Truth Social will become the first social media platform to offer built in prediction market tools. The new feature, called Truth Predict, will let users trade contracts on political events, economic indicators, commodity prices, and major sports outcomes, all with real time pricing.

“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 in a press release.

He said the company aims to “create a new standard for access to prediction market platforms” and added, “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 contracts will be offered through Crypto.com Derivatives North America, which the companies say will give Truth Social users a federally compliant way to make predictions on real world events.

“Prediction markets are poised to be a multi-deca-billion dollar industry,” said Kris Marszalek, Co-Founder and CEO of Crypto.com. He said, “Crypto.com has quickly become one of the most trusted providers of prediction market services, and we’re thrilled to combine with Truth Social to support the world’s first prediction markets available from a social media platform.”

When will Crypto.com and Truth Social release Truth Predict?

Beta testing is expected to start on Truth Social soon, with a full US launch coming after that. Trump Media says it plans to expand the service worldwide once it meets all required regulations.

Users on Truth Social and on its streaming platform Truth Plus will be able to convert their reward gems into the Cronos digital currency, which they can then use to buy prediction contracts. This move builds on earlier deals between Trump Media and Crypto.com, including plans to create Trump Media Group CRO Strategy Inc., which is linked to a proposed business merger with Yorkville Acquisition Corp.

Truth Social Launching Prediction Markets, powered by https://t.co/pFc4Pz9nFR