Truth Social to Offer Prediction Markets via Exclusive Partnership with Crypto.com

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World’s first

President Donald Trump’s digital pulpit Truth Social is to become the world’s first social media platform to offer prediction market betting after striking a deal with service provider Crypto.com. 

Truth Social parent, Trump Media and Technology Group Corp, inked the exclusive deal with the Singapore-based crypto giant on Tuesday. The integration, which includes streaming platform Truth+, and the FinTech brand Truth.Fi was announced by Crypto.com via X:

The federally registered exchange’s integration with Truth Social will make it the first platform on the internet to give social media users the chance to bet on Crypto.com’s prediction markets. 

In related news, President Trump has nominated Securities and Exchange Commission (SEC) chief Mike Selig to chair the Commodity Futures Trading Commission (CFTC).

All coming together

The news of Truth Social’s expansion into prediction markets dovetails with Washington’s selection of Selig over the weekend and heralds a new regulatory era for both controversial prediction markets and digital assets.

Crypto Capital of the World”

Media reports following President Trump’s nomination revealed traders see Selig “as a hopeful signal for clear, less restrictive rules.”  The incumbent SEC Crypto Task Force Chief Counsel took to X to express his gratitude to the US leader, stating he would “help the President make the United States the Crypto Capital of the World:” 

Selig’s primary focus will be formalizing crypto’s market structure, just as the CFTC is expected to assume new oversight over the almost $4trn crypto assets market. 

The delayed crypto bill is a top priority for the Trump Administration, with the nomination of Selig coming after ex-presidential pick Brian Quintenz’s route to CFTC chair was choked off by opposition from crypto billionaires Tyler and Cameron Winklevoss. The siblings voiced concerns over whether Quintenz “was aligned with Trump’s agenda.”

Selig’s nomination is seen as an open channel for more widespread legal wagering on sporting, political, and economic events, effectively turning Washington’s regulatory pivot into an even bigger boon for the booming prediction market industry.

Trump Media seizes opportunity

The market headwinds, despite a legal twister for Kalshi in Massachusetts, are favoring a crypto/prediction market gold rush.

After Tuesday’s Crypto.com deal, Trump Media Chairman and CEO Devin Nunes boasted the media giant has over $3bn in financial assets and was positioned to capitalize on existing social media assets to create “a new standard for access to prediction market platforms.”

a pot-shot at “global elites”

Truth Social platform users will be able to trade on major sporting and political events, gold/oil commodity prices, and other markets via technology Crypto.com has named Truth Predict. Nunes took a pot-shot at “global elites” who he claimed “have closely controlled these markets” and stated Truth Predict would change the status quo and empower “everyday Americans.”

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