Truth Social on Tuesday announced that it will make prediction markets available on the social media platform in a format called “Truth Predict” in partnership with Crypto.com.
“We are thrilled to become the world’s first publicly traded social media platform to offer our users access to prediction markets,” Devin Nunes, the chairman and CEO of Trump Media, said in a written statement.
He continued:
Truth Predict will allow our loyal users to engage in prediction markets with a trusted network while harnessing our social media platform to provide totally unique ways for users to discuss and compare their predictions. With more than $3 billion in financial assets as of the end of the second quarter, and having posted our first quarter of positive operating cash flow after going public just last year, Trump Media is well-positioned to leverage our strong balance sheet and existing social media capabilities to create a new standard for access to prediction market platforms. 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, turning free speech into actionable foresight.
Thanks to the partnership with Crypto.com, Truth Social users will be able to trade prediction contracts about major events and milestones, such as political elections, the price of commodities, sporting events, and more, using the new technology dubbed, “Truth Predict.”
Kris Marszalek, Co-Founder and CEO of Crypto.com, said in a statement:
Crypto.com has quickly become one of the most trusted providers of prediction market services, and we’re thrilled to combine with Truth Social to support the world’s first prediction markets available from a social media platform. This aligns perfectly with what users look for in social media — a community to engage with and seek truth. Truth Predict will provide customers with a powerful tool related to market sentiment on an unlimited number of events.
Marszalek added, “We are thrilled to integrate Truth Social’s truly pioneering social media platform and technology with our industry-leading technology and regulated prediction market trading.”
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