Trump's Truth Social Partners With Crypto.com to Launch Prediction Markets for Elections and Sports Betting

Truth Social, the social media platform established by US President Donald Trump, revealed on Tuesday plans to introduce betting capabilities for users to wager on real-world event outcomes.

Trump Media and Technology Group (TMTG) is tapping into the growing popularity of prediction betting, where mobile applications allow users to place wagers across various domains including politics, economic indicators, sports competitions, and entertainment events.

Through a new partnership with Crypto.com, Truth Social will enable betting on "elections, interest rates and inflation rate changes, commodity prices on gold and crude oil," as well as events from "all major sports leagues," according to their official statement.

These "prediction markets" are not classified as gambling by federal authorities and fall under the regulatory oversight of the Commodity Futures Trading Commission (CFTC) rather than state gambling regulatory bodies that typically supervise lotteries and casinos across the United States.

The betting mechanism involves users purchasing "contracts" for financial products that deliver profits if specific events materialize—whether that's a candidate winning an election or a sports team securing victory.

This emerging sector shows such promise that Intercontinental Exchange, the operator of the New York Stock Exchange, recently announced a substantial $2 billion investment in Polymarket, a leading prediction platform.

Prediction applications have gained particular popularity among young adults, raising concerns about potential addiction issues and financial losses.

TMTG has launched various initiatives, including cryptocurrency-related financial offerings and a video streaming service, but generated only $1.7 million in revenue during the first half of 2025.

During the same period, the company reported a significant net loss of $51.7 million, according to documentation filed with the US Securities and Exchange Commission.