- Trump Media partnered with Crypto.com to launch a live beta prediction market on its Truth Social platform.
- The collaboration involves Truth+, Truth.Fi, and Crypto.com, which will act as the exchange and clearing partner for the new product.
- The move deepens ties between the companies and places prediction market infrastructure directly into the Truth Social app, aiming for a full US launch after the beta.
It looks like Trump Media wants a piece of the prediction market action, as it has partnered with Crypto.com to host a live beta on the Truth Social platform.
A full US launch is expected after the live beta rollout, once local requirements are met, Bloomberg reported. The collaboration involves streaming product Truth+, fintech brand Truth.Fi, and Crypto.com as exchange and clearing.
Prediction markets have exploded in popularity recently, with Polymarket leading by market share and Kalshi close behind. These platforms allow users to bet on contracts on future outcomes, for example, like the odds of a team winning a game, or even political election results, or an interest-rate move, etc.
“Prediction markets are poised to be a multi-deca-billion dollar industry,” Crypto.com CEO Kris Marszalek said. Meanwhile, Trump Media CEO Devin Nunes framed the product as a push for wider public access to crowd forecasts.
Earlier this year, Trump Media and Crypto.com agreed to a blank-check deal for a new venture that would pursue a treasury-style strategy to accumulate Crypto.com’s native token CRO. The new prediction product deepens those ties and brings exchange and clearing infrastructure directly into Truth Social’s app surface.
Related: Trump Media Partners With Crypto.com, Launches US$1B CRO Strategy Vehicle
As mentioned, Beta testing on Truth Social will begin soon. The company says US access will come first, with international expansion after regulatory checks.
Prediction Markets Enjoy Increasing Popularity
The move comes as prediction markets gain traction with both retail and professional users.
Kalshi and Polymarket have seen rising volumes and investor interest.
According to Reuters, Polymarket received funding from 1789 Capital, which has ties to Donald Trump Jr. Firms pitch these venues as tools for price discovery on real-world events. Probably part of the reason behind the relaunch into the US market (and clearer regulations, of course).
That said, the rivalry between Polymarket and Kalshi is reaching a new high as both platforms set their valuation goals. Polymarket is eyeing roughly US$10 billion (AU$15.3 billion), while Kalshi believes it can reach a valuation of over US$12 billion (AU$18.6 billion) through several investment proposals.
Related: Report: North Korea Has Stolen Nearly $3B in Crypto So Far This Year
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