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Trump Family Explore Prediction Markets Via Crypto.com Partnership

Trump Family Explore Prediction Markets Via Crypto.com Partnership

The post Trump Family Explore Prediction Markets Via Crypto.com Partnership appeared on BitcoinEthereumNews.com. Trump’s family communication company, Trump Media and Technology Group, announced on October 28 that it would make prediction markets available on Truth Social through an exclusive arrangement with Crypto.com Derivatives North America. The integration positioned Truth Social as the first social media platform to offer embedded prediction market capabilities via a CFTC-registered exchange and clearinghouse. The announcement comes amid the rising popularity of prediction markets. Kalshi and Polymarket combined surpassed $8 billion in volume in the third quarter, up 61% from the second quarter. Trump Family Targets Political and Financial Events With New Platform Truth Social users gained access to trade prediction contracts on political elections, interest and inflation rate changes, and gold and crude oil commodity prices, as well as events across major sports leagues, through the product Truth Predict. Prices are updated in real-time, allowing users to react instantly to developments in major current events. Devin Nunes, Trump Media chairman and chief executive, stated the company held more than $3 billion in financial assets as of the second quarter. He posted its first quarter of positive operating cash flow after going public in 2024. The event contracts were offered via Crypto.com Derivatives in North America, providing federally compliant access to event contracts covering politics, economics, financials, and sports. Kris Marszalek, Crypto.com co-founder and chief executive, described prediction markets as “poised to be a multi-deca-billion dollar industry”. He noted the integration aligned with what users sought in social media communities. The platform planned beta testing followed by a full US launch, with global expansion pending regulatory requirements. Truth Social and Truth+ users who hold Truth gems earned through platform interactions can convert them into Cronos (CRO) and apply them to Truth Predict contract purchases. The initiative followed Trump Media’s recent strategic partnership with Crypto.com to introduce a CRO rewards…