Truth Social Abandons Prediction Markets with Crypto.com

Trump Media and Technology Group (NASDAQ: DJT) has scrapped its plan to introduce prediction markets on Truth Social, a major social media platform. The company had partnered with Crypto.com to launch 'Truth Predict,' a feature that would have allowed users to trade event contracts, including sports derivatives, directly inside the app.

The deal was announced in October and aimed to bring prediction markets to a massive audience of political and social media users. However, neither company has disclosed why the partnership fell through.

Crypto.com still plans to launch its own consumer-facing prediction market platform, called OG, which was introduced earlier this year. The company also has partnerships with Fanatics and FanDuel, two operators with deep footholds in the US sports betting market.