• Truth Social making prediction markets available
• Move comes through an agreement with Crypto.com
• Statement mentions events across “all major sports leagues”

Shares of Trump Media and Technology Group (NASDAQ: DJT) rallied Tuesday after the company said its Truth Social platform is entering the prediction markets arena through an agreement with Crypto.com.

Truth Social imagery. President Trump’s social media company is entering prediction markets through an agreement with Crypto.com. (Image: Shutterstock)

Financial terms of the agreement weren’t disclosed, but the social media company noted it will be the first of its kind to integrate an event contracts offering directly into its platform. The event contracts that will appear on Truth Social will be offered by Crypto.com Derivatives North America (CDNA), which is registered with the Commodities Futures Trading Commission (CFTC).

The integration will begin Beta testing live on Truth Social in the near future, followed by a full launch in the United States. Subsequently, Trump Media plans to launch the service globally once all the requisite requirements are met,” according to a press release.

Perhaps not surprisingly given President Trump’s efforts to loosen cryptocurrency regulations in the US his family ties to the industry, and Crypto.com’s established footprint in the space, digital currency  is in play with Truth Predict — the name of the social media outfit’s prediction markets offering. The company said that Truth Social and Truth+ users who have Truth gems — rewards for activity on the platforms — can convert the gems into the cryptocurrency Cronos and apply those tokens toward the purchases of event contracts.

Sports Contracts Part of Crypto.com, Truth Social Deal

At a time when prediction markets offering sports event contracts is an increasingly controversial proposition, Crypto.com and Truth Social aren’t shying away from yes/no wagers tied to sporting events. The two companies are embracing those contracts.

“The event contracts will be offered via CDNA, with the integration providing a federally compliant way to access CDNA event contracts and make predictions on the outcomes of events, including politics, economics, financials, and sports – all seamlessly woven with technology from Truth Social,” according to the statement.

Crypto.com was one of the first companies in the space to offer sports event contracts, getting into that arena last December. The firm rapidly expanded suite, targeting the NFL playoffs and the Super Bowl. Some gaming and prediction markets industry observers now believe that sports derivatives account for massive percentages of the volume on the exchanges, though that turnover is still dwarfed by regulated sports betting handle.

More Prediction Markets Involvement for Trump Jr.

News of the Crypto.com/Truth Social agreement means more prediction markets involvement for Donald Trump Jr. The president’s oldest son is a board member of Florida-based Trump Media and Technology Group.

In August, Trump Jr.’s 1789 Capital invested in Polymarket, one of the largest prediction markets operators. That was a smart move because that company has since been valued at up to $10 billion and rumors are swirling it could soon procure more financing at a valuation of up to $15 billion.

Trump Jr. is an advisor to both Kalshi and Polymarket, the two largest prediction market firms.

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