Trump Media and Technology Group (TMTG), a technology and media company co-founded by US President Donald Trump, will launch prediction markets on its social media platform, Truth Social.
To this end, the company has already entered into a partnership agreement with an American crypto exchange. Crypto.comIt is known that the new forecasting platform will be called Truth Predict.
«For too long, global elites have tightly controlled these markets. With Truth Predict, we’re democratizing information and empowering ordinary Americans to harness the wisdom of the crowd, turning free speech into actionable forecasting,» said Trump Media CEO Devin Nunes.
Truth Social launched in 2022 and currently has approximately 6,3 million users. While this impressive figure is relatively small compared to its competitors, it’s still a relatively small number.
According to TMTG, beta testing of the Truth Social prediction market integration into the social network will begin in the near future. The company then plans to fully launch the platform in the US.
The launch of Truth Predict comes amidst the rapid growth of the global prediction market industry, led by two major players, Kalshi and polymarketHowever, they are experiencing difficulties in the US market, so the new platform could pose serious competition.