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The social media company said it will soon allow users “to trade prediction contracts related to major events and milestones” as the White House denies any conflict of interest.
Trump Media & Technology Group Corp. plans to make prediction contracts available on its Truth Social network, allowing users to bet on events ranging from political elections to inflation-rate changes, according to a statement on Tuesday. Initial testing of the service, called Truth Predict, will start “in the near future,” the release said.
The product could add to the competing prediction market companies where Donald Trump Jr., the president’s eldest son, holds sway. Trump Jr., a board member at Trump Media, took on advisory roles at both Kalshi and Polymarket earlier this year. 1789 Capital, the investment firm where he is a partner, also took a stake in Polymarket.
DraftKings Inc. and Flutter Entertainment Plc, which are expanding into prediction markets, fell on the news.
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