**Truth Social Launches Truth Predict: A New Crypto-Backed Social Media Prediction Market**
Trump Media and Technology Group (TMTG) is set to introduce an innovative social media prediction market platform called **Truth Predict** on its Truth Social platform. Partnering with major U.S.-based crypto exchange Crypto.com, this venture aims to “democratize information” for Truth Social’s 6.3 million users.
### What Is Truth Predict?
Truth Predict is not just an experiment; it represents a bold entry into the rapidly expanding global market for prediction markets—platforms where users can speculate and predict everything from elections to commodity prices. CEO Devin Nunes highlighted the initiative as a direct challenge to the “elites,” with the goal of empowering “everyday Americans” to convert their discussions into “actionable foresight.”
Although Truth Social’s current user base is modest—6.3 million compared to X’s 650 million—the introduction of this new trading feature is a strategic move to significantly boost user engagement and retention. By following in the footsteps of established leaders like Kalshi and Polymarket, Truth Predict hopes to create a dynamic “wisdom of the crowd” forecasting engine.
### Full U.S. Launch Expected Despite Regulatory Challenges
According to TMTG’s official announcement, Truth Predict will first debut as a beta test on Truth Social before rolling out fully across the United States. However, this launch comes amid a highly regulated environment for prediction markets.
The U.S. has seen significant legal challenges for platforms in this space. For instance:
– **Kalshi** recently faced a cease and desist from the New York State Gaming Commission over alleged illegal sports betting.
– **Polymarket** ceased its U.S. operations in 2022 after a settlement with the Commodity Futures Trading Commission (CFTC) for operating as an unregistered derivatives platform.
Importantly, the CFTC and the Department of Justice later dropped all remaining investigations against Polymarket, signaling a potentially less adversarial regulatory stance under the current administration. This development could smooth the path forward for Truth Predict’s U.S. launch.
### Politics, Technology, and Crypto Converge
Truth Social’s entry into the prediction market arena highlights a growing trend where politics, technology, and cryptocurrency intersect. Donald Trump Jr., Executive Vice President of the Trump Organization, recently joined Polymarket’s advisory board in August, underscoring this connection.
By collaborating with Crypto.com, TMTG leverages established crypto infrastructure and taps into a user base familiar with digital assets. Yet, the success of Truth Predict will hinge on its ability to navigate the complex and evolving U.S. regulatory landscape governing social prediction markets.
### Final Thoughts
Truth Predict represents a high-stakes experiment aimed at amplifying user engagement on Truth Social through crypto-based features. Its ultimate success will be measured not only by user adoption but also by how effectively it avoids the regulatory pitfalls that have challenged other prediction market platforms in the U.S.
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### Frequently Asked Questions
**What is the name of Truth Social’s new prediction market platform?**
The platform is called **Truth Predict**.
**Who is Truth Social partnering with for the launch?**
Truth Social has partnered with **Crypto.com**, a major U.S.-based cryptocurrency exchange.
https://usethebitcoin.com/news/truth-social-enters-prediction-markets/