Polymarket. everything. Social truth?
Donald Trump’s social network appears to be entering the prediction market. On Monday, Truth Social’s parent company, Trump Media and Technology Group Corp, announced that the social media platform will be the first site of its kind to launch its own prediction market.
The prediction market will be called “truth prediction.”
Social truth Announce An “exclusive arrangement” sees the company collaborating with him crypto.com To make a prediction market happen.
“We are thrilled to become the world’s first publicly traded social media platform to provide our users with access to prediction markets,” Devin Nunes, Trump Media’s chairman and CEO, said in a statement. “The Truth Predict app will allow our loyal users to participate in prediction markets through a trusted network while harnessing our social media platform to provide completely unique ways for users to discuss and compare their predictions.”
Truth Social’s new AI research has been “energized” enough to disagree with Trump
Polymarket and Kalshi are currently the most popular prediction markets. These platforms allow users to bet on almost anything, from the results of an election or basketball game to betting on whether a celebrity will do a specific thing before a specific date. Prediction markets circumvent gambling laws and regulations by offering “contracts” with users who bet against each other rather than against the casino. Polymarket and Kalshi do not bet on outcomes, they make money through fees on each contract sold.
Speed of light mashable
Prediction markets have become increasingly popular in recent years. In the run-up to the 2024 presidential election, many have followed platforms like Polymarket and Kalshi Prediction Based on bets placed on traditional opinion polls. Now, even news agencies are sources These prediction markets when looking at polling data.
However, prediction markets have gained a much stronger foothold in the United States since Trump won the election. For example, Polymarket has not even been able to operate in the US as of 2022 as a result of a settlement with the Commodity and Futures Trading Commission (CFTC). The regulator alleged that Polymarket was operating an unregistered market for trading financial derivatives. Even the FBI I raided Polymarket CEO Shane Coplan returns home in 2024 to investigate whether the company is still trying to operate in the country.
Department of Justice under Trump Investigation closed It entered Polymarket in July of this year, and the company has since been allowed to operate again in the United States
“Prediction markets are poised to become a multi-billion-dollar industry,” he said. crypto.com Co-Founder and CEO Chris Marszalek in a statement about the partnership with Truth Social.
And that’s really the core of why Trump Media launched Truth Expectation. like Wired He also points out that the Trump family already has a financial interest in the prediction market. The president’s eldest son, Donald Trump Jr., currently serves as a strategic advisor to Calci. Trump Jr. also sits on Polymarket’s advisory board as a result of an investment made by the venture capital firm of which he is a partner.
It is already well established that President Trump and his family have no concerns about alleged conflicts of interest and corruption. They have already tested the waters of all kinds Cryptocurrency projectswhich witnessed the work of the Trump family 1 billion dollars In the last year alone.
If the President of the United States gets involved in what is essentially an unregulated gambling industry – where people bet on what will happen in politics, business, sports, and more – what could go wrong? Not so much for absolute insiders who can control multiple scenarios like Trump.
As for everyone else, though? Just ask the hundreds of thousands of people who lost money investing in Trump meme coin.