BlockBeats report, May 12: Trump Media & Technology Group (TMTG) is scaling back its prediction market initiatives. According to recently disclosed filings, the previously high-profile prediction market product, Truth Predict, remains in development and will initially be limited to a "marketing and promotional partnership" with OG.com, the U.S. prediction market platform under Crypto.com.
This statement is clearly weaker than the original plan announced in 2025, when Truth Predict was described as a fully integrated prediction market service within Truth Social, allowing users to exchange "Truth gem" points for Cronos tokens and participate in trading predictions on events such as sports, inflation, and elections.
Currently, neither Trump Media nor Crypto.com has clearly explained the specific nature of the so-called "marketing partnership," and it remains unclear whether users will eventually be able to conduct transactions directly within Truth Social.
The prediction markets industry has recently experienced rapid growth, while also facing regulatory scrutiny. Donald Trump Jr., the eldest son of Donald Trump, is affiliated with multiple prediction market platforms, serving as an advisor to Kalshi and investing in Polymarket through his venture capital firm.
The Trump administration has generally taken a more favorable stance toward prediction markets. During Trump’s term, the CFTC rescinded the investigation into Polymarket initiated under the Biden administration and has consistently emphasized that prediction markets fall under federal derivatives regulation, not state gambling oversight.
CFTC Chairman Michael Selig recently stated that the agency has sued several state governments attempting to restrict the operation of prediction markets and is collaborating with major U.S. professional sports leagues to strengthen oversight of insider trading and market manipulation.
It is worth noting that OG.com initially planned to support margin trading, allowing users to borrow funds to place bets on prediction markets, but this feature does not appear to have been officially launched yet.
In addition to Truth Predict, right-wing media outlet Newsmax has also applied to launch its own prediction market platform, "Newsmax Markets." Meanwhile, Kalshi and Polymarket have each established partnerships with media outlets including CNN, CNBC, and Fox.