In a groundbreaking move, the social media platform Truth Social is set to venture into the realm of prediction markets, solidifying its place in the ever-evolving landscape of digital communication. This initiative is made possible through a strategic partnership with the cryptocurrency exchange Crypto.com.

Introducing ‘Truth Predict’

A recent announcement unveiled that Truth Social will launch “Truth Predict,” allowing users to engage in prediction markets on various topics. Whether it’s political trends, economic shifts, or major sports events, users will have the chance to forecast outcomes and potentially profit from their insights.

This feature will offer real-time updates, enabling users to make timely decisions based on current events. Just like existing platforms such as Kalshi, this move signifies a significant evolution in how social media can integrate practical financial forecasting.

Devin Nunes, the CEO of Trump Media, expressed his excitement, noting:

We are making history by being the first social media platform to integrate prediction markets. Truth Predict allows users to engage meaningfully, fostering discussions and insights around their predictions.

The Vision Behind Trump’s New Initiative

These event contracts come through a compliant system known as CDNA, making it accessible for users to make informed predictions related to various sectors. From political landscapes to market trends, Truth Predict aims to provide a comprehensive platform for engagement.

Kris Marszalek, CEO of Crypto.com, emphasized the vast potential within prediction markets, stating:

As an emerging sector, prediction markets could transform into a multi-billion dollar industry. Our collaboration with Truth Social is a thrilling step toward making these markets available through a digitized social framework.

The rollout of this feature is anticipated to begin with beta testing shortly on Truth Social before a wider launch in the U.S. Following that, there are plans to expand internationally, pending regulatory approvals.

In addition, users who earn Truth gems through their interactions on Truth Social and the Truth+ platform will soon have the ability to convert these gems into Cronos (CRO) tokens. This will enable them to purchase prediction contracts on Truth Predict.

This partnership enhances the ongoing collaboration between Trump Media and Crypto.com, which includes a rewards system based on CRO across both platforms.

Moreover, Trump Media is poised to set up a digital asset treasury focused on CRO, following its agreement with Yorkville Acquisition Corp, a SPAC aimed at elevating this innovative venture to a larger audience.

Image courtesy of DALL-E, chart from TradingView.com