PREVIEW

Trump’s Social Media Company to Launch Prediction Betting Marketplace. Trump Media and Technology Group (TMTG) will soon introduce a prediction betting marketplace on Truth Social, enabling users to place bets on sports and political events. CEO Devin Nunes described the new feature as a way to "democratize information," empowering Americans to leverage crowd wisdom for predictive insights. TMTG is partnering with Crypto.com to develop the marketplace, which is expected to enter beta testing soon. The prediction market industry, led by companies like Polymarket and Kalshi, has seen rapid growth, especially during the 2024 presidential election cycle. These markets allow users to bet against each other, not the operator, raising concerns over transparency and potential manipulation. TMTG’s move into prediction markets follows Donald Trump Jr.'s involvement with Kalshi and Polymarket, where he serves as a strategic adviser and investor. In addition to the new marketplace, TMTG also runs Truth Social, the Truth+ streaming platform, and a Bitcoin treasury.
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