Key Highlights of Truth Prediction
- Integrated Access: Truth Predict is integrated into the Truth Social app, allowing users to join directly without needing to register separately.
- Event-Based Trading: Users can place small bets on real-world events such as elections, sports, and financial outcomes.
- Blockchain Security: Transactions use the Crypto.com blockchain network for greater transparency and protection.
- Digital Wallet Support: Users can deposit and withdraw using the Crypto.com wallet and CRO tokens.
- US Beta Release: Beta testing begins for US users ahead of a planned global launch.
- Accessible prediction tools: Open event markets to regular users, not just professional traders.
- Community interaction: Connect prediction markets with live discussions on Truth Social.
Trump Media & Technology Group (TMTG), the parent company of Truth Social, announced on Tuesday a partnership with Crypto.com to launch a blockchain-based prediction market called Truth Predict.
The platform will allow users to trade the results of political, financial and entertainment events, combining social media activity with decentralized trading. According to the announcement, Truth Predict will be integrated into the Truth Social app, giving its users access to event-based markets covering topics such as the US elections, cryptocurrency prices, and major sporting events.
Trump Media adds new line of business
Trump Media and Technology Group is entering the prediction market sector through its partnership with Crypto.com. The company recently posted its first quarter of positive operating cash flow since going public last year.
In its statement, Trump Media said it manages more than $3 billion in financial assets and plans to use its Truth Social platform to host and promote Truth Predict. Users will be able to negotiate contracts based on real-world results in politics, sports and finance.
The company said the goal is to make prediction trading more accessible to the general public through its existing social network.
Crypto.com after Nevada court ruling
Earlier this month, a Nevada judge denied Crypto.com’s request to block new state gaming regulations, clearing the way for stricter oversight of event-based trading platforms.
Shortly after the ruling, Crypto.com and Trump Media announced their collaboration to build Truth Predict. The project gives Crypto.com access to a broad American audience while also offering Trump Media a new feature to engage its users within Truth Social.
Compete with Polymarket and Kalshi
Truth Predict will compete with existing platforms such as Polymarket and Kalshi, which allow users to trade on real-world events. Polymarket recently received a valuation of $9 billion, underscoring the growing interest in this segment of digital finance.
Beta testing of Truth Predict will begin on Truth Social “in the near future,” followed by a full launch in the US and subsequent expansion to international markets.
Trump Media Expands Partnership with Crypto.com
This collaboration follows previous projects between the two companies. In March, Truth Social introduced a rewards program using Crypto.com’s wallet and its CRO token, and later extended the system to the Truth+ streaming service.
The addition of Truth Predict builds on that partnership, linking Trump Media’s social platforms with new market trading tools.
Rise of user-based prediction platforms
Prediction markets have gained visibility since the 2024 US elections, when users of platforms like Polymarket traded billions of dollars in political outcomes. These markets allow participants to buy and sell contracts linked to the probability of specific events.
Truth Predict will operate in the same space, with a built-in user base already active on Truth Social, where political and financial discussions are an important part of engagement.
Also read: Crypto.com Files US OCC Charter to Operate as National Trust Bank