Donald Trump’s company to launch Polymarket rival

Core Insights - Trump Media & Technology Group is launching a new prediction market platform called Truth Predict, which will be integrated with Truth Social [1][2] - The platform will allow users to wager on various real-world events using blockchain technology, with initial testing set to begin soon [2] - The partnership with Crypto.com Derivatives North America will facilitate the processing of wagers, enhancing the relationship between Trump Media and the crypto exchange [3] Company Developments - CEO Devin Nunes stated the aim is to "democratize information" and enable "everyday Americans" to leverage collective insights [4] - Following the announcement, Trump Media's stock experienced a rise of up to 3%, reaching an intraday high of $16.63 [4] Industry Context - The prediction market sector is gaining traction, with platforms like Polymarket and Kalshi experiencing record volumes and attracting interest from major players such as CME Group and Intercontinental Exchange [5] - Donald Trump Jr. has joined Kalshi as a strategic advisor and has connections to both Polymarket and Kalshi through his venture capital fund [6] - Recent funding rounds in the prediction market space include Polymarket securing up to $2 billion at a valuation of $9 billion and Kalshi raising $300 million at a valuation of $5 billion [7]