Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, announced that it will make prediction markets available on Truth Social via an arrangement with Crypto.com | Derivatives North America (CDNA), which is said to be a CFTC-registered exchange and clearinghouse. Following the integration, Truth Social will be the first social media platform to offer its users technology to access embedded prediction markets capabilities through CDNA.
Truth Social users can now trade prediction contracts that are related to key events and milestones, such as political elections, “interest and inflation rate changes, commodity prices on gold and crude oil, events across all major sports leagues, and more using the product tech called ‘Truth Predict.'” Prices will update in real-time, allowing users “to react to developments in current events.”
The event contracts will be offered via CDNA, with the integration offering a federally compliant way to access CDNA event contracts and make predictions on the “outcomes of events, including politics, economics, financials, and sports – all woven with technology from Truth Social.”
The integration will start Beta testing live on Truth Social in the near future, followed by a complete launch in the US. Subsequently, Trump Media intends to launch the service “globally once all the requisite requirements are met.”
Truth Social and Truth+ users who have Truth gems, which are earned for interacting on the platforms, will be able “to convert their gems into the Cronos (CRO) digital currency and apply them to purchases of Truth Predict contracts.”
This initiative between Trump Media and Crypto.com comes after the formation of a partnership between the companies to launch a CRO rewards system on the Truth Social and Truth+ platforms, and the plan to form Trump Media Group CRO Strategy, Inc., after a definitive agreement for a proposed business combination with Yorkville Acquisition Corp, a special-purpose acquisition company sponsored by Yorkville Acquisition Sponsor LLC, to form a digital asset treasury firm primarily focused on the acquisition of CRO.