Trump’s social media platform to allow betting

The download screen for Truth Social app is seen on a laptop computer, March 20, 2024, in New York. (John Minchillo / AP Photo, File)

The social media network founded by U.S. President Donald Trump, Truth Social, announced Tuesday that it will allow users to make bets on the outcome of real-world events using the platform.

Trump Media and Technology Group (TMTG) is capitalizing on a form of betting that has surged in popularity, with phone-based apps that allow users to wager on topics ranging from politics and the economy, to sports and entertainment.

Truth Social will add betting through a partnership with Crypto.com, allowing users to bet on “elections, interest rates and inflation rate changes, commodity prices on gold and crude oil,” or events from “all major sports leagues,” according to a statement.

Federal authorities don’t consider so-called “prediction markets” to be gambling, per se, and as such they are regulated by the Commodity Futures Trading Commission (CFTC) and not by state gambling authorities across the U.S., as lotteries and casinos typically are.

To secure a wager, the user purchases a “contract” for a financial product that yields a profit if the event occurs -- whether it’s the election of a candidate or the victory of a sports team.

The new sector is considered so promising that earlier this month the New York Stock Exchange’s operator, Intercontinental Exchange, announced a $2 billion investment in one of the most prominent platforms, Polymarket.

Prediction apps are particularly popular among young adults, which has raised concerns about the risks of addiction and financial losses.

TMTG has launched several projects, including cryptocurrency-related financial products and a video streaming platform, but generated only $1.7 million in revenue in the first half of 2025.

At the same time, it reported a net loss of $51.7 million, according to documents published by the U.S. Securities and Exchange Commission.