"On Saturday's Table for Five, the table debated Trump's social media company, Trump Media and Technology Group, jumping into the prediction betting marketplace. TMTG is partnering with Crypto.com on the system, which they will soon be beta testing. Users will be able to bet on both sports and politics. Now, what could possibly go wrong with a betting market on elections run by the son of the sitting United States president who is the leader of one of the major political parties?"
"Of course, I'll say this as well, there has to be some type of regulation, maybe it's from the SEC on political gambling because right now, my understanding it's a problem with the Trump family in specifics and a problem, I would say, with the political market in general. Because right know, theoretically, if I were, you know, as a Democratic strategist, to work on a congressional campaign, I could bet on that campaign and profit from that. This is wrong."
Trump Media and Technology Group is launching Truth Predict, a prediction-betting platform in partnership with Crypto.com that will be beta tested and allow users to wager on sports and political outcomes. Critics warn that political betting creates conflicts of interest and enables campaign staff or strategists to profit from bets on races they influence. Some call for regulatory oversight, including possible SEC involvement, to prevent market manipulation and insider-like trading. Company leadership claims Truth Predict will democratize prediction markets and empower everyday Americans, framing the product as a check on existing market control.
Read at www.mediaite.com
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