Truth Social, the social media platform majority-owned by US President Donald Trump and his family, is launching a cryptocurrency-based gambling service that will compete directly with the wildly popular Polymarket.

The new service, Truth Predict, will allow Truth Social users to place crypto bets on the outcome of particular events, from sports contests to political races to shifts in the economy. Truth Social is operated by Trump Media & Technology Group, a publicly traded company.

Typically, individual predictions are framed as binary questions, such as: “ Will Taylor Swift release a new original song by October 2? ” or “ Will Barcelona win the UEFA Champions League? ”

Ahead of the US presidential election in 2024, when prediction markets first broke into the mainstream, they wer

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