Copyright Benzinga
Trump Media & Technology Group Corp. (NASDAQ:DJT) jumped more than 6% on Tuesday's after announcing plans to launch Truth Predict, a new prediction markets platform inside its Truth Social app. Trump Media Expands Into Prediction Markets The company said the feature will allow users to trade prediction contracts on major events such as elections, interest rate decisions, and commodity prices. The offering will be powered by Crypto.com Derivatives North America, a Commodity Futures Trading Commission–registered exchange and clearing house. Truth Predict will first roll out in the U.S., followed by a global expansion. Testing is expected to begin "in the near future," according to the company's statement. Trump Media said the integration will make Truth Social the first social platform to embed regulated prediction market functionality, giving its users access to wagers across politics, economics, and sports. Partnership Deepens Trump–Crypto Links The deal deepens Trump Media's ties with Crypto.com, which earlier formed a joint crypto treasury company to hold the CRO token. The exchange has played a growing role in Trump's crypto ecosystem, including donations to his super PAC, MAGA Inc. Crypto.com CEO Kris Marszalek has maintained close ties with the Trump administration. He was one of the first industry executives to visit Mar-a-Lago following Trump's election victory in 2024. Prediction Market Boom Lures New Entrants The launch follows record activity in global prediction markets. Platforms such as Polymarket and Kalshi recently reported weekly trading volumes higher than those seen during the 2020 election cycle. Data from Dune Analytics show both platforms reaching new highs as interest in event-driven trading expands. Polymarket is reportedly valued near $15 billion, while Kalshi's latest funding round values it above $10 billion. "For too long, global elites have controlled these markets. With Truth Predict, we are giving power back to everyday Americans," said CEO Devin Nunes. Regulatory Spotlight Grows on Forecast Platforms Prediction platforms continue to face regulatory uncertainty in the United States. Kalshi recently filed a lawsuit against New York's gaming commission, claiming the agency is overstepping its authority on federally regulated trading. Analysts say Trump Media's use of a CFTC-registered partner reduces its exposure to similar legal risks. The company's large base of retail investors gives it a distinct advantage over traditional exchanges such as CME Group (NASDAQ:CME) and ICE (NYSE:ICE), which have studied the space but not yet entered it. Chart Signals Compression Breakout as $DJT Tests Key Trendline $DJT Price Action (Source: TradingView) Trump Media stock is testing a key descending trendline near $16 after several months of compression. The 20-day EMA at $16.33 and 50-day EMA at $16.93 are forming short-term resistance levels. A breakout above $17.60 could trigger momentum toward the 100-day EMA near $18.20 and the $20.80 level. Failure to hold $15.30 would weaken the setup and expose the lower Bollinger Band near $15.20. The chart shows early signs of accumulation, suggesting potential upside if volume expands above the current range. Read Next: Consumers Feel Like It’s 2008 Again In DC As Shutdown Hits Wallets Image: Shutterstock
