Trump Media Launches Prediction Market with Crypto.com

Trump Media and Technology Group, where former President Donald Trump holds a majority stake, announced Tuesday its partnership with Singapore-based Crypto.com to debut Truth Predict, a prediction market platform integrated with the Truth Social microblogging service. The platform will enable users to trade prediction contracts on major events including elections, sports games, and future cryptocurrency prices, positioning itself as a competitor to established platforms like Kalshi and Polymarket.

In its announcement, Trump Media emphasized its mission to democratize prediction markets, stating: “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 company highlighted how Truth Predict will leverage its social media platform to create “totally unique ways for users to discuss and compare their predictions” within a trusted network.

Trump Media enters the prediction market space from a position of financial strength, reporting more than $3 billion in financial assets as of the end of the second quarter and its first quarter of positive operating cash flow since going public last year. The company stated it 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.”

The prediction market industry has gained significant traction recently, particularly after crypto-powered Polymarket made headlines during the U.S. presidential election when users bet billions of dollars that Trump would win, forming a consensus ahead of traditional polling. Polymarket received a $9 billion valuation earlier this month, indicating the substantial market opportunity Trump Media is targeting with its new platform.

The partnership announcement comes just weeks after a Nevada judge denied Crypto.com’s injunction request to block state gaming regulations, representing a regulatory setback for the Singapore-based cryptocurrency exchange. Despite this challenge, Crypto.com appears committed to expanding its prediction market offerings through the Trump Media partnership, building on their existing relationship that began in March with a rewards system across Truth Social and Truth+ streaming video platform using Crypto.com’s wallet and CRO as a utility token.

Trump Media plans to begin beta testing of Truth Predict on Truth Social in the “near future,” followed by a full debut in the United States. The company added that it plans to introduce the service globally, though specific timelines for international expansion were not provided. This global ambition comes as prediction markets continue to gain popularity among consumers seeking to bet on event outcomes.

Truth Predict enters a competitive prediction market space that includes established players like event-contract platform Kalshi and blockchain-based Polymarket. According to a Myriad prediction market survey conducted by Dastan, the parent company of Decrypt, fewer than one in four respondents believe Polymarket will issue a token this year, suggesting potential market opportunities for new entrants like Truth Predict.

The integration of prediction markets with social media represents a significant evolution in how these platforms operate. By embedding Truth Predict within Truth Social—the platform Trump typically uses for announcements—Trump Media aims to create a seamless experience where users can discuss events, share predictions, and trade contracts within the same ecosystem, potentially creating network effects that could accelerate adoption.