Trump Media & Technology Group has announced a partnership with Crypto.com to launch Truth Predict. The move places the company in direct competition with major players like Polymarket and gives it a stake in the $9 billion prediction markets.
Trump Media Reveals New Polymarket Rival: Truth Predict
According to Bloomberg, Trump Media will allow users to place prediction contracts on topics ranging from elections and economic indicators to sports outcomes and commodity prices. The new feature, Truth Predict, is expected to begin testing in the coming weeks before an official U.S. launch and subsequent global rollout.
The announcement comes as activity across existing platforms like Polymarket and Kalshi has hit record highs. Data from Dune Analytics shows that weekly notional trading on these markets recently surpassed levels seen during the 2020 election cycle.
The surge has also attracted attention from Wall Street players such as CME Group and Intercontinental Exchange. The firms are also exploring entry into the event betting market.
Truth Predict will rely on Crypto.com Derivatives North America to facilitate prediction wagers. This reinforces the collaboration between Crypto.com and the firm. The two firms previously reached an agreement to create a crypto treasury vehicle and co-develop exchange-traded funds (ETFs) under the Truth.Fi brand.
Truth Social Takes Aim at Polymarket’s Dominance
This new platform could rival Polymarket’s stake in the predictions market. The platform is reportedly raising funds at a valuation approaching $15 billion. The firm also announced plans to issue a native POLY token and to conduct a retroactive airdrop for loyal users.
While Polymarket runs its platform on blockchain rails, Kalshi operates under a traditional financial model. Both, however, face mounting regulatory uncertainty in the U.S. Kalshi recently sued New York’s gaming commission. They argued that the state lacks jurisdiction to oversee federally regulated prediction markets.
This new move from the firm builds on previous moves. Notably, Trump Media confirmed the establishment of a Cronos Treasury, backed by the purchase of roughly 684 million Cronos (CRO) tokens valued at around $105 million.
Kris Marszalek, CEO of Crypto.com, has cultivated close business ties with the Trump family, and the exchange is playing an increasingly prominent role in the administration’s digital-asset strategy.
Source: https://coingape.com/trump-media-launches-polymarket-rival-eyes-9b-prediction-market-with-crypto-com/
