Truth Social Gets Into Prediction Market Game

• Truth Social and Crypto.com today announced a new partnerhship
• The companies will launch “Truth Predict” platform on Truth Social
• Event contracts will be offered via Crypto.com

Trump Media and Technology Group Corp., operator of the social media platform Truth Social, today announced a new partnership with Crypto.com to allow the social media platform to offer prediction contracts to its users.

The new product, “Truth Predict,” will allow Truth Social users to trade prediction contracts related to major events and milestones, including political elections, interest and inflation rates changes, commodity prices, and sporting events across all major sports leagues.

The integration will begin beta testing live on Truth Social “in the near future,” according to the announcement.

First Social Media, Prediction Market Deal

Event contracts will be offered to Truth Social users via Crypto.com, with the integration providing a federally compliant way to access event contracts and make predictions on the outcomes of events with technology from Truth Social.

“We are thrilled to become the world’s first publicly traded social media platform to offer our users access to prediction markets,” said Devin Nunes, Chairman and CEO of Trump Media.
“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.”

President Donald Trump (R) founded Truth Social in 2022 as an alternative social media platform. He currently owns 53% of the company, held in a revocable trust.

White House Nominates New CFTC Chair

The White House recently announced President Trump’s new candidate to chair the Commodity Futures Trading Commission (CFTC). Michael Selig, chief counsel of the SEC’s Crypto Task Force and senior advisor to the chair, was nominated by President Trump.

According to Bloomberg, Selig has been working as an aide to SEC Chairman Paul Atkins, working to align the approaches of the SEC and CFTC to facets of the finance and crypto industry.

This is the second nominee to chair the CFTC from President Trump. Earlier this month it was confirmed that first nominee, Brian Quintenz, was no longer being considered for the position.

President Trump nominated Quintenz for the position in February. Quintenz is a former CFTC commissioner who currently sits on the board of Kalshi.

However, according to POLITICO, crypto billionaires Tyler and Cameron Winklevoss told President Trump in a July call that Quintenz’s view for the CFTC did not align with the president’s agenda.

“Being nominated to chair the CFTC and going through the confirmation process was the honor of my life,” Quintenz said in a message to POLITICO. “I am grateful to the President for that opportunity and to the Senate Agriculture Committee for its consideration. I look forward to returning to my private sector endeavors during this exciting time for innovation in our country.”