Trump's Media Firm Unveils Predictive Betting Platform Amid Growing Concerns Over Potential Influence on Global Events.
In a move that has raised eyebrows, Donald Trump's media company, Trump Media & Technology Group Corp., is partnering with Crypto.com to launch a prediction market platform called "Truth Predict" on its social media platform Truth Social. The new product will enable users to bet on future events such as election outcomes, sports, and commodity prices, using a model similar to that of existing platforms like Polymarket and Kalshi.
Critics are warning that the introduction of such platforms could create an environment where powerful interests influence global events by betting on their likelihood. "It's not just about prediction markets; it's about who gets to decide what happens," said Zach Rynes, a community liaison for Chainlink, adding that "if these markets traded with $100 million+ liquidity, would they not be subsidizing war?"
The new platform has sparked concerns over its potential impact on global events. While proponents argue that prediction markets can provide a window into the collective opinions of people and help prevent biases from powerful corporations and politicians, others caution that such platforms can create an environment where money influences outcomes.
One example that highlights this concern is Polymarket's "Will China invade Taiwan in 2025?" market, which currently sits at a 3% chance. Similarly, Truth Social's own platform lists a market for "Will the U.S. invade Venezuela in 2025?" with a 14% likelihood. Critics argue that the flow of money into such markets could inadvertently incentivize powerful interests to tip the scales and make events happen.
Regulatory bodies, however, have taken steps to prevent such platforms from being used to manipulate global events. The US Commodity Futures Trading Commission (CFTC) prohibits event contracts referencing terrorism, assassination, war, or other illicit activities, effectively banning direct invasion markets like those found on Polymarket.
As Truth Predict prepares to launch in the US with plans for international expansion, digital prediction market enthusiasts will be watching closely to see if the platform can avoid creating the same concerns that have plagued its predecessors. With the stakes higher than ever, one thing is certain: the world is waiting with bated breath to see how this high-stakes game of probability unfolds.
For now, President Trump's media firm has made clear its intentions: to give users a say in shaping global events through predictive betting. The question remains – will the world be ready for this new form of democratic participation?
In a move that has raised eyebrows, Donald Trump's media company, Trump Media & Technology Group Corp., is partnering with Crypto.com to launch a prediction market platform called "Truth Predict" on its social media platform Truth Social. The new product will enable users to bet on future events such as election outcomes, sports, and commodity prices, using a model similar to that of existing platforms like Polymarket and Kalshi.
Critics are warning that the introduction of such platforms could create an environment where powerful interests influence global events by betting on their likelihood. "It's not just about prediction markets; it's about who gets to decide what happens," said Zach Rynes, a community liaison for Chainlink, adding that "if these markets traded with $100 million+ liquidity, would they not be subsidizing war?"
The new platform has sparked concerns over its potential impact on global events. While proponents argue that prediction markets can provide a window into the collective opinions of people and help prevent biases from powerful corporations and politicians, others caution that such platforms can create an environment where money influences outcomes.
One example that highlights this concern is Polymarket's "Will China invade Taiwan in 2025?" market, which currently sits at a 3% chance. Similarly, Truth Social's own platform lists a market for "Will the U.S. invade Venezuela in 2025?" with a 14% likelihood. Critics argue that the flow of money into such markets could inadvertently incentivize powerful interests to tip the scales and make events happen.
Regulatory bodies, however, have taken steps to prevent such platforms from being used to manipulate global events. The US Commodity Futures Trading Commission (CFTC) prohibits event contracts referencing terrorism, assassination, war, or other illicit activities, effectively banning direct invasion markets like those found on Polymarket.
As Truth Predict prepares to launch in the US with plans for international expansion, digital prediction market enthusiasts will be watching closely to see if the platform can avoid creating the same concerns that have plagued its predecessors. With the stakes higher than ever, one thing is certain: the world is waiting with bated breath to see how this high-stakes game of probability unfolds.
For now, President Trump's media firm has made clear its intentions: to give users a say in shaping global events through predictive betting. The question remains – will the world be ready for this new form of democratic participation?
... Think about it, if rich people are willing to bet $100m+ on something happening, does that mean they're basically trying to make it happen? 
It's a slippery slope, fam. And what about the politicians and corporations who could be influencing these markets? That's just asking for trouble 
. I get where the idea of 'democratic participation' sounds cool, but we gotta think about the consequences too... Can we trust that this won't just become a playground for the 1% to try and shape global events in their favor? 
Not sure, but it's definitely worth keeping an eye on 
like SimCity or something... and I was just thinking, have you ever tried to balance a budget on a tiny island with only like 1000 coins to work with? it's harder than it sounds lol... anyway, back to prediction markets... i dunno, maybe they're not all bad? 
, think about it if ppl can bet on stuff like wars or elections it's like they're basically writing the script 
, what's to stop some rich dude from just throwing money at a market and changing the outcome 
meanwhile the politicians are already getting in on this action 
. The concern is that powerful interests might try to influence global events by betting on their likelihood.
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Imagine being able to bet on something happening in a way that affects everyone. It's like we're living in some kind of real-life video game! 
But at the same time, what if the money and influence of powerful people start to skew the outcome? 
But if not, then I worry about where all this might lead... 
truth social is launching this prediction market thingy and i am FREAKING OUT!!! 
i know some ppl are worried about it influencing global events or whatever but i'm like, how cool would it be to have a say in what happens??