Trump Media & Technology Group Corp. (DJT) on Tuesday announced plans to launch a prediction markets offering on its social media platform, Truth Social.
Trump Media stated that it is partnering with Crypto.com | Derivatives North America (CDNA) to offer the prediction markets feature on Truth Social. CDNA is a Commodity Futures Trading Commission (CFTC) registered exchange and clearing house.
Trump Media shares were up more than 6% in Tuesday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘neutral’ territory at the time of writing.
The feature, called Truth Predict, will allow users to trade prediction contracts on major events, such as elections, changes in interest and inflation rates, gold and crude oil prices, and major sporting events, the company said in its announcement.
“Following the integration, Truth Social will be the first social media platform to offer its users technology to access embedded prediction markets capabilities through CDNA,” the company stated in its announcement.
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