Trump Media to enter prediction markets business

Trump Media & Technology Group Corp. plans to make prediction contracts available on its Truth Social network.

- Bloomberg

Donald Trump’s social-media company is getting into the prediction markets business, where record betting is attracting a host of new entrants.

Trump Media & Technology Group Corp. plans to make prediction contracts available on its Truth Social network, allowing users to bet on events ranging from political elections to inflation-rate changes, according to a statement on Tuesday. Initial testing of the service, called Truth Predict, will start “in the near future,” the release said.

The initiative adds to recent efforts by Trump Media to capitalize on its retail following and comes just after trading volume on the leading marketplaces, Polymarket and Kalshi, hit a fresh record. Investors’ voracious appetite for betting on real-world events has prompted firms like CME Group Inc. and Intercontinental Exchange Inc. to look for ways into the business.