Trump Media and Technology Group Corp., known for its platform Truth Social, announced plans to introduce prediction markets through a partnership with Crypto.com. This collaboration marks Truth Social as the first social media service to offer such features.

The official announcement revealed that users of Truth Social will be able to trade on big events, including elections, inflation rates, commodity prices, and more. Devin Nunes, Chairman and CEO of Trump Media, stated:

“We are thrilled to become the world’s first publicly traded social media platform to offer our users access to prediction markets. Truth Predict will allow our loyal users to engage in prediction markets with a trusted network while harnessing our social media platform to provide totally unique ways for users to discuss and compare their predictions.”

Kris Marszalek, Co-Founder and CEO of Crypto.com, mentioned that prediction markets are predicted to evolve into a multi-deca-billion dollar industry, citing Crypto.com’s standing as a highly trusted provider in this area.

Following the announcement, Cronos (CRO), the cryptocurrency linked to Crypto.com, experienced a substantial surge, increasing 10% to trade at $0.16 according to CoinGecko. Earlier this year, Trump Media had already contributed to a significant price increase for CRO, planning to acquire 685,427,004 CRO at a cost exceeding $100 million. Furthermore, Trump Media, together with Crypto.com and Yorkville, is setting up a digital asset treasury aimed at accumulating about 19% of the total CRO supply.