The new service, Truth Predict, will allow Truth Social users to place crypto bets on the outcome of particular events, from sports contests to political races to shifts in the economy. Truth Social is operated by Trump Media & Technology Group, a publicly traded company.
Truth Predict, which is being launched in partnership with an affiliate of the crypto exchange Crypto.com, is entering a field currently dominated by Polymarket and Kalshi, both of which recently raised funds at lofty multibillion-dollar valuations.
In January, Donald Trump Jr. joined Kalshi as a strategic adviser. Then, in August, Polymarket received an investment from 1789 Capital, a venture capital firm where Trump Jr. serves as a partner. As part of the deal, Trump Jr. joined Polymarket’s advisory board.
“Neither the president nor his family have ever engaged, or will ever engage, in conflicts of interest,” says White House press secretary Karoline Leavitt, in a statement to WIRED.