Truth Social Partners With Crypto.com To Launch Prediction Market Trading

Trump-linked Truth Social will make history as the first social media platform to offer prediction market trading. The development comes following a partnership with Crypto.com’s regulated exchange, CDNA. The deal will enable users to trade contracts on sports outcomes, commodity prices, inflation rates, and election results in real time.

Truth Social will integrate prediction market features directly into its platform, according to the announcement. It will enable users to easily trade contracts on economic events, global sports, and political outcomes in real time.

Truth Social Enables More CRO Utility On Its Platform

The partnership is coming after the launch of Truth Social’s new product, Truth Predict. The new feature gives users the capability to buy and sell contracts connected to the outcomes of major events such as sports results, commodity prices, inflation changes, and elections. Users can monitor price movements in real-time, giving them the ability to make informed trading decisions.

Kris Marszalek, Co-founder and Chief Executive Officer of Crypto.com, commented on the partnership. “We are proud to partner with Trump Media, an innovator in digital media, to bring the utility of CRO to the Truth Social platform,” he said.

Marszalek noted that the collaboration marks a significant period for the Cronos blockchain. It is an evidence of the power the loyal community of builders have to broaden the crypto scope and provide more opportunities in the market.

Truth Social and Truth+, the platform’s streaming app, will allow users to convert Truth gems earned in the platform into the CRO (Cronos) cryptocurrency. The tokens can be used to buy prediction contracts, the company noted. The goal is to connect financial participation with social engagement.

The New Service Will Be Launched In Beta Mode

Truth Social stated that the new feature will be launched first in Beta mode in the US. After the successful beta testing, users should expect a full launch before a global rollout once it has sorted out all regulatory requirements.

The collaboration is coming on the back of a recent partnership between Crypto.com and Trump Media. The partnership offers CRO rewards to encourage users to actively engage on the platform. Additionally, there is an ongoing plan to launch a digital assets firm through a deal with Yorkville Acquisition Corp. The collaboration will also ensure the support of several TMTG-branded exchange-traded funds (ETFs). These include both traditional and digital assets.

Truth Social is not relenting on its efforts to partner with crypto firms as the platform continues to support digital assets adoption.