Africa-Press – Mauritius. US President Donald Trump’s media firm Trump Media announced Tuesday a partnership with Crypto.com to make Truth Social the first social media platform to offer prediction markets.
“Following the integration, Truth Social will be the first social media platform to offer its users technology to access embedded prediction markets capabilities through Crypto.com | Derivatives North America (CDNA),” Trump Media said in a statement.
The company said with the new product technology known as “Truth Predict,” users of the platform will be able to trade prediction contracts pertaining to significant events and milestones, including political elections, changes in interest and inflation rates, commodity prices for gold and crude oil, events in all major sports leagues, and more.
The prices for prediction contracts will update in real-time, allowing users to react instantly to developments in major current events, according to the statement.
“We are thrilled to become the world’s first publicly traded social media platform to offer our users access to prediction markets,” said Trump Media CEO Devin Nunes. “Truth Predict will allow our loyal users to engage in prediction markets with a trusted network while harnessing our social media platform to provide totally unique ways for users to discuss and compare their predictions.”
The event contracts will be provided through CDNA, and integration will enable a federally compliant method of accessing CDNA event contracts and forecasting event outcomes in areas such as politics, economics, finance and sports, all of which are smoothly integrated with Truth Social’s technology.
Crypto.com CEO Kris Marszalek said: “Prediction markets are poised to be a multi-deca-billion dollar industry. Crypto.com has quickly become one of the most trusted providers of prediction market services, and we’re thrilled to combine with Truth Social to support the world’s first prediction markets available from a social media platform.”
Trump Media is the operator of the social media platform Truth Social, the streaming platform Truth+ and the FinTech brand Truth.Fi.
The company has been expanding its reach recently in the tech sector. In June, Trump Media announced the launch of a new cellular service, “T1 Mobile,” and a new smartphone called “T1 Phone.”
It also filed a registration statement with the US Securities and Exchange Commission (SEC) for a Bitcoin and Ethereum exchange-traded fund (ETF).
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