Copyright Inc. Magazine
In a statement on Tuesday, Trump Media announced Truth Social’s foray into betting markets, made possible through a partnership with Crypto.com parent company Derivatives North America. Truth Social, which is the preferred ecosystem of those within the MAGA orbit, frequently plays host to the president’s formal statements. The president uses it as a bullhorn, not unlike his Twitter habit during his first term. Under the supervision of the Commodity Futures Trading Commission, a wide range of prediction contracts, similar to those served by Polymarket and Kalshi, will be available to Truth Social users under an extension of the site called Truth Predict. Beta testing of the product is imminent, the release said, while a full rollout in the United States is expected to follow. No specific dates or timelines were offered. “Truth Social users will be able to trade prediction contracts related to major 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,” the press release issued Tuesday says. Despite occupying the White House, Trump’s family and associates continue to carve out business niches—sparking ethical questions as they do so. Eric Trump heads up American Bitcoin, a crypto mining company, while the Trump family owns a majority of shares in World Liberty Financial, a crypto exchange founded after Trump was sworn in for his second term. Devin Nunes, previously a Republican congressman from California and now the CEO of Trump Media, said in the statement: “With more than $3 billion in financial assets as of the end of the second quarter, and having posted our first quarter of positive operating cash flow after going public just last year, Trump Media is well-positioned to leverage our strong balance sheet.” Trump Media stock is operating at a 52 percent loss in 2025, and currently trading at a little over $16 a share. Despite branching out into a new category, Trump Media continues to lose money quarter after quarter. The company’s latest 10-K filing shows a $20 million net loss for the second quarter of this year. In the first quarter, it reported losses of $31 million. Meanwhile, betting and predictions markets are a surging category since a few key regulatory hurdles were cleared in recent years. Last year, a federal appeals court granted Kalshi permission to sell event contracts for U.S. politics, which arguably set in motion the groundswell of commercial betting activity in the U.S. And Polymarket, founded in New York City but operating offshore, is the biggest player. It is currently seeking funding, estimating the company at a $15 billion valuation.
