Donald Trump is now venturing into prediction markets via his own Truth Social platform. His company, Trump Media and Technology Group, has announced an exclusive partnership with Crypto.com. Thanks to this collaboration, users will soon be able to place live bets on all kinds of events, such as elections.
The feature, called Truth Predict, will be available in the Truth Social application. Users will be able to choose from different predictions displaying prices in real time. Contracts will be purchased using the CRO cryptocurrency, owned by Crypto.com.
Truth Social users will be able to bet via Truth Predict
Users will be able to earn “Gems” (virtual gems) by being active on the platform. These points can then be converted into CRO tokens, which can be used to bet on predictions within Truth Predict.
The exact launch date for Truth Predict is not yet known. The company is talking about a beta version that should be released shortly, before a wider roll-out in the United States and possibly abroad.
Possibility of expansion outside the US, but monitoring in Belgium
It is not yet known whether Truth Predict will be launched in Belgium. If it does, Trump will have to take account of the country’s strict regulations. The Gaming Authority considers this type of market to be a form of betting, which is prohibited without an official licence.
In addition, the promotion of live betting via social networks is prohibited. In 2022, a bookmaker received a warning for broadcasting an advertisement during a live football match on Twitter.
Trump wants to change laws to make online gambling easier
The timing of this initiative is notable. Trump has long campaigned for greater freedom in the gambling sector. His previous bills to introduce a single national regulation are in line with this new digital move.