President Donald Trump’s social media platform is making a bold push into sports wagering, announcing a partnership that could reshape how Americans place bets on athletic competitions.
Truth Social has joined forces with Crypto.com, the Singapore-based cryptocurrency company that serves as a major sponsor of the UFC. Through this arrangement, users will soon be able to wager on sporting events directly within the platform’s mobile application, creating what the companies describe as an industry first for social media.
The collaboration leverages Crypto.com’s ownership of Nadex, a federally regulated futures trading exchange that operates under the oversight of the Commodity Futures Trading Commission.
This regulatory framework allows the platform to offer prediction markets—a sophisticated form of event-based wagering—across all 50 states, sidestepping the patchwork of state gambling laws that govern traditional sportsbooks.
According to the companies’ press release, Truth Social will become “the first social media platform to offer its users technology to access embedded prediction markets capabilities.” While competing platforms like X have promotional relationships with prediction market operators Kalshi and Polymarket, those arrangements stop short of enabling direct wagering within the application itself.
Prediction markets have emerged as a disruptive force, prompting nervous reactions from established operators. Shares of major sportsbook companies DraftKings and Flutter Entertainment, which owns FanDuel, declined following the Truth Social announcement as investors assessed the competitive implications.
Truth Social’s betting features will encompass “all major sports leagues,” according to the announcement. This positioning follows the National Hockey League’s groundbreaking decision last week to become the first major American professional sports league to formally embrace prediction markets.
The platform plans to reward its most dedicated users through special betting subsidies reserved for premium subscribers. Beta testing of the integrated prediction market technology will begin shortly, with a comprehensive United States launch to follow. International expansion is planned for subsequent phases.
The arrangement deepens existing business relationships between Crypto.com and the Trump family’s media enterprise. Last August, Trump Media & Technology Group, which owns Truth Social, announced plans to purchase approximately $105 million worth of CRO, the cryptocurrency token affiliated with Crypto.com’s ecosystem, as part of establishing a new venture called Trump Media Group CRO Strategy.
Kris Marszalek, who leads Crypto.com as chief executive, cultivated connections with the Trump family well before this latest deal. He visited the president’s Mar-a-Lago resort in Florida last December, and his company contributed $1 million toward Trump’s January inauguration festivities.
The relationship has proven mutually beneficial for both parties. Crypto.com has experienced extraordinary growth, reporting $1.5 billion in revenue during 2024—a performance that elevated it to the world’s third-largest cryptocurrency exchange. The company’s trading volume soared nearly 1,000 percent year-over-year, reaching $1.29 trillion and capturing a 6.85 percent market share.
The company’s 2021 deal with the UFC, valued at more than $175 million over ten years, placed its branding on competition apparel worn by athletes and their training teams during events broadcast to 625 million people across 175 countries.
Before beginning his second presidential term, Donald Trump transferred his substantial ownership stake in Trump Media into a revocable trust. His son serves as that trust’s sole trustee, managing assets while the president governs.
These interlocking business relationships coincide with the Trump administration’s influence over the regulatory landscape governing prediction markets. The Commodity Futures Trading Commission, which oversees the betting products offered by Kalshi, Polymarket, and Crypto.com’s Nadex platform, has undergone a philosophical shift since the presidential transition.
During the Biden administration, the CFTC maintained strict opposition to futures contracts involving sporting events. That stance has softened considerably in recent months, though acting chair Caroline Pham has avoided full-throated endorsement of sports wagering products.
Crypto.com has positioned itself to benefit from multiple channels within the prediction market ecosystem. Beyond its Truth Social partnership, the company maintains a separate technology-sharing agreement with Underdog, enabling that platform to incorporate sports contracts into its own offerings.
