Truth Social Enters Prediction Markets with “Truth Predict”

Donald Trump’s social media platform Truth Social is expanding into prediction markets. A new partnership with Crypto.com will allow users to speculate on the outcomes of political, economic, and sporting events. The feature,  called “Truth Predict,” marks the latest move by Trump Media & Technology Group (TMTG) to expand its influence in finance, technology, and politics.

Truth Predict Will Pursue International Expansion

According to TMTG, the new feature will allow Truth Social users to speculate on real-world outcomes, from US elections and central bank rate decisions to sports leagues and commodity prices. Contracts will fluctuate in real time, reflecting changes in public sentiment and news updates. The company intends to begin beta testing soon, with a full rollout following in the US and eventually overseas.

The partnership with Crypto.com is significant due to the exchange’s growing market presence and past controversies. The Singapore-based platform, which donated $11 million to Trump-linked causes, now seeks to bolster its presence in the US financial system. The company’s recent application for a US bank charter and the conclusion of a Securities and Exchange Commission investigation suggest a renewed focus on legitimacy.

Truth Predict will allow our loyal users to engage in prediction markets with a trusted network while harnessing our social media platform to provide unique ways for users to discuss and compare their predictions.

Devin Nunes, TMTG chairman

TMTG chairman Devin Nunes framed the launch as a way to empower the people and give them increased control over information markets that were previously controlled by global elites. He noted that this democratic approach to information sharing would help Americans tap into the wisdom of the crowd, enabling them to make informed decisions.

Prediction Markets Enjoy Significant Political Support

This development further strengthens the ties between the Trump family and the prediction market sector. Donald Trump Jr. recently took advisory positions with leading prediction platforms Kalshi and Polymarket. His venture capital firm, 1789 Capital, has made significant investments in Polymarket. High-profile investors have followed suit, as Intercontinental Exchange also pledged up to $2 billion for Polymarket.

The regulatory outlook has also shifted. The Commodity Futures Trading Commission (CFTC) withdrew an appeal that questioned the legality of Kalshi’s election-based markets. The Department of Justice and CFTC also ended investigations into Polymarket’s US operations, effectively paving the way for such platforms.

However, prediction markets face enduring opposition as critics warn that such services blur the line between legitimate speculation and gambling. Kevin F. O’Toole, head of the Pennsylvania Gaming Control Board, called prediction markets a significant threat to the state’s regulatory systems. The Nevada Gaming Control Board has also maintained a strict stance, confirming that Crypto.com must suspend its sports event contracts in the state.