Trump Media & Technology Group has announced a new project called Truth Predict. The company, led by Donald Trump, will let users on its Truth Social app bet on real-world events.
According to a Bloomberg report, the service will allow predictions on elections, inflation data, sports results, and commodity prices. It will begin testing soon before launching in the United States, followed by a global rollout.
Chief Executive Officer Devin Nunes said, “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.” He added that the goal is to turn free speech into foresight.
Meanwhile, Truth Predict will partner with Crypto.com Derivatives North America to handle wagers. This deepens the connection between the two firms after their earlier deal to create a crypto treasury. The treasury was set up to hold Cronos (CRO) tokens and support the Truth.Fi brand.
As a result, the move places Trump Media in direct competition with Polymarket and Kalshi. These are two of the biggest names in the fast-growing prediction market industry. Moreover, weekly trading on those platforms recently reached record highs, according to data from Dune Analytics. Investors have shown strong interest, and even Wall Street groups like CME Group and Intercontinental Exchange are exploring the field.
In addition, Trump’s son, Donald Trump Jr., sits on Trump Media’s board and has links to both Kalshi and Polymarket. His investment firm, 1789 Capital, has a stake in Polymarket. That connection could give Trump Media more insight into the industry’s growth.
Furthermore, Crypto.com CEO Kris Marszalek has also been close to Trump. He was among the first crypto executives to visit Mar-a-Lago after Trump’s election victory. The exchange donated to Trump’s inaugural committee and his political action committee, MAGA Inc.
That said, as prediction markets rise, regulators are paying more attention. Kalshi recently sued New York’s gaming commission, saying the state is overstepping its authority. Still, Trump Media’s entry adds new energy to a market already worth billions.
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