Trump-backed Truth Social jumps into prediction markets with Crypto.com

Truth Social, the social media platform associated with Donald Trump, is entering the prediction markets space through a partnership with Crypto.com. Users will be able to trade prediction contracts on a variety of events, including political elections, economic indicators, and sports outcomes, using a new product called “Truth Predict.” This initiative aims to “democratize information” and leverage the “wisdom of the crowd,” according to Devin Nunes, CEO of Trump Media. The move comes as the prediction markets industry experiences significant growth, with platforms like Kalshi and Polymarket seeing record trading volumes and attracting substantial investment. Truth Social users with “Truth gems” will be able to convert them into Cronos (CRO) tokens to participate in these prediction markets. Beta testing is expected to begin soon, with a full launch planned in the United States and eventual global expansion.

(Source：The Block)