News linked to both this project and an event.
Odaily News As prediction markets gradually expand into the realms of politics and government decision-making, insider trading risks are becoming a regulatory focus. U.S. prediction market platform Kalshi has stated that it has identified multiple suspected cases of insider trading and has submitted the relevant leads to federal regulators.Kalshi spokesperson Laura Frank stated that the company prohibits market manipulation and insider trading and has established a trading surveillance system similar to those used in securities markets. Earlier this year, Kalshi's monitoring system flagged suspicious trading activity by former Congressman George Santos in markets related to the U.S. President's State of the Union address. The company subsequently submitted its investigative findings to the U.S. Commodity Futures Trading Commission (CFTC).Additionally, federal agencies are investigating whether former White House teleprompter operator Gabriel Perez used advance knowledge of Trump's speech content to trade on Kalshi-related markets.Meanwhile, the Trump family is accelerating its push into the prediction market space. Trump Media & Technology Group is developing a prediction market platform called TruthPredict, which will allow users to trade prediction contracts tied to major events. The company is also launching Truth API, providing Wall Street with high-speed data access to Truth Social content.Donald Trump Jr., the eldest son of the former president, currently serves as a strategic advisor to Kalshi, while his venture capital firm, 1789 Capital, has invested in rival Polymarket and joined its advisory board. This means the Trump family is simultaneously linked to the two leading prediction market platforms, while Trump Media Group is also building its own prediction market business.Although there is currently no public evidence showing that Donald Trump Jr. or the Trump family has traded using inside government information, the potential conflicts of interest arising from the intertwining of presidential public information, market trading, and family business interests are drawing growing external scrutiny.As of now, Donald Trump Jr.'s team and Trump Media & Technology Group have not immediately responded to requests for comment. (Fortune)
Odaily News: U.S. Democratic Senator Alex Padilla plans to introduce new legislation that would prohibit presidents from offering paid services that provide users with early access to their public statements or social media posts. The bill targets a recently launched paid service by Trump Media & Technology Group that allows users to receive real-time alerts on posts from Trump and other figures on social platforms, some of which may involve information affecting financial markets.Alex Padilla stated that Trump's public remarks should not be sold as an "early trading advantage" to specific paid users. He believes that if market participants can gain faster notifications of presidential statements through payment, it could create an unfair information gap. As of now, Trump Media & Technology Group has not responded to the legislative proposal.
Odaily U.S. Representative Ritchie Torres has asked the U.S. Securities and Exchange Commission (SEC) to investigate whether Truth Social parent company Trump Media & Technology Group (TMTG)'s upcoming Truth API violates federal securities law, and to evaluate whether it involves issues of market manipulation, investor protection, and conflicts of interest.Previously, it was reported that the Truth API will launch on August 1, providing paid clients with real-time data access to public posts from popular Truth Social accounts, with licensing fees reaching up to $100,000 per month. (Axios)
: Trump Media & Technology Group (TMTG) is exploring the commercialization of real-time information feeds on its Truth Social platform, offering institutional clients high-speed access to Trump's posts at a price of up to $100,000 per month. Sources indicate that Trump Media & Technology Group has proposed a six-figure monthly fee plan to potential clients, allowing quicker access to the latest updates from U.S. President Donald Trump on Truth Social. The service is primarily aimed at institutional investors seeking to track policy signals, market sentiment, and the impact of political events with low latency.As one of Trump's primary channels for public communication, Truth Social's content has long been a focus of financial markets. Information such as Trump's policy views, tariff measures, and regulatory statements has repeatedly triggered volatility in stocks, foreign exchange, and cryptocurrency markets. However, it remains unclear whether the high-speed data service has secured any clients yet, or how many institutions are willing to pay the listed fees. (Financial Times)
Trump Media & Technology Group interim CEO Kevin McGurn stated that the company will launch a set of backend interfaces allowing financial services firms to pay for access to Truth Social’s real-time data. McGurn indicated that this marks the company's first expansion of its media business into the data licensing field. The newly launched Truth API will provide clients with real-time access to content published by the platform's top ten most popular accounts.McGurn added that clients willing to pay a higher fee in the future can obtain data access rights to more accounts. These accounts include key decision-makers who influence policy-making and geopolitical trends, such as U.S. President Donald Trump, the White House, FBI Director Kash Patel, White House Deputy Chief of Staff Dan Scavino, and Secretary of Health and Human Services Robert F. Kennedy Jr. (Axios)
Trump Media & Technology Group is significantly adjusting its strategy for the prediction market product "Truth Predict." The project, originally planned to launch full trading functionality in partnership with Crypto.com, may now only materialize as a marketing and promotional collaboration, with a notable contraction in the scale of its features.According to the latest regulatory filings, the project is still under development. However, the initial phase will be limited to a promotional partnership with prediction market platform OG.com, rather than embedding trading functions directly within Truth Social. The market's initial vision of an integrated "social + prediction market trading" model appears to be diminished.Earlier plans indicated that Truth Predict intended to allow users to convert platform credits into crypto assets and participate in trading events related to sports, inflation, and elections. However, the newly disclosed structure leans more towards an "external platform traffic-redirecting partnership," with specific commercial mechanisms yet to be clarified. Meanwhile, the prediction market industry is experiencing rapid expansion alongside regulatory conflicts. Platforms like Kalshi and Polymarket continue to expand their sports and event contract businesses, but are also facing jurisdictional disputes between state-level gambling regulators and federal authorities.Analysts suggest that the strategic downsizing of Truth Predict reflects the increasing uncertainty surrounding compliance structures, product forms, and regulatory boundaries for prediction markets. Particularly against the backdrop of an as-yet-unified U.S. regulatory system, related products are trending towards "asset-light cooperation" models rather than direct financial integration into social platforms. (Wired)