Trump’s Truth Predict enters booming prediction markets amid claims of “the most corrupt government in history”

Trump’s Truth Predict brings prediction markets to Truth Social as lawmakers accuse his administration of running “the most corrupt government in history.”

Trump’s new “Truth Predict” launch

On Oct. 28, Trump Media & Technology Group, the company behind Truth Social, announced a new collaboration with Crypto.com Derivatives (North America) to introduce a feature called “Truth Predict.”

The project aims to let users trade contracts on the outcomes of real-world events, including elections, interest-rate decisions, commodity prices, and even sports results.

The company described Truth Social as becoming the “world’s first social-media platform offering prediction markets,” a bold attempt to merge social interaction with financial speculation.

The initial rollout will begin in the U.S. under a beta phase before expanding internationally. However, the legal structure of prediction markets in the country remains uncertain.

Depending on how they are framed, such platforms could fall under the jurisdiction of the Commodity Futures Trading Commission or even face restrictions similar to gambling laws. The regulatory outcome will largely determine how the platform operates at scale.

Truth Social, launched in February 2022, was originally designed as an alternative to major social-media networks following Trump’s bans from several platforms.

TMTG, the company that owns Truth Social, was founded in 2021 and is majority-owned by the Donald J. Trump Revocable Trust, giving Trump an economic interest in the company and making him the ultimate beneficiary of its success.

The announcement of the Truth Predict partnership has already rippled through the crypto market. The Official Trump trump-4.55%Official Trump token, a memecoin built on the Solana sol-4.31%Solana blockchain and associated with the Trump brand, saw a sharp uptick in trading activity.

As of this writing on Oct. 29, the TRUMP token was trading around $8.3, representing a 20% increase over the prior 24-hour period, making it the biggest gainer among the top 100 crypto assets by market cap. The token has also gained around 42.5% over the prior seven days.

The timing suggests the announcement may have served as a catalyst for the surge, moving the token out of its earlier trading range and attracting heightened speculative interest.

Trump Jr.’s footprint in the event-trading boom

Truth Predict operates on a binary-event contract model similar to that used by established prediction platforms such as Kalshi and Polymarket.

Participants can take positions on whether a specific event will happen, such as “Will the Federal Reserve cut interest rates in December?” or “Will a Republican win control of the Senate in 2026?”

Each contract trades between $0 and $1, and the price represents the market’s collective expectation of the outcome. If the event occurs, the “yes” contract settles at $1 and the “no” contract at $0, offering a direct way for users to trade on probabilities.

Reports indicate that Truth Predict is expected to be fully integrated into the Truth Social interface, allowing users to discuss, post, and track predictions within the same environment where they already communicate and share updates.

Kalshi Inc. offers a regulated model for comparison. It operates under U.S. derivatives law through the CFTC, allowing both retail and institutional traders to buy and sell event contracts tied to economic, political, and social outcomes.

According to the Financial Times, Kalshi also lists Donald Trump Jr. as an adviser, placing him in a position linked to an already licensed exchange.

In contrast, Polymarket, launched in 2020, uses cryptocurrency to let users bet on global events. The platform was fined $1.4 million by the CFTC in 2022 for operating without registration and is currently barred from serving U.S. customers while it prepares to reenter the market through the acquisition of a licensed exchange.

On Aug. 26, Reuters reported that Polymarket received investment from 1789 Capital, the venture-capital firm where Trump Jr. is a partner, and that he joined Polymarket’s advisory board.

A follow-up Reuters report on Sep. 8, 2025, stated that 1789 Capital had crossed $1 billion in assets under management.

The same Reuters investigation cited four government ethics specialists who described 1789 Capital’s structure as a potential conflict of interest since Trump Jr. is both a partner in the firm and the son of a sitting president.

Richard Painter, former White House ethics lawyer, remarked, “I don’t think the founders would have tolerated this in 1789, that’s the irony of it.”

Ann Skeet, Senior Director of Leadership Ethics at a university institute, added that “there’s no getting around the appearance” that the firm’s private-access club creates “private access to the administration.”

Truth Predict therefore enters a market where Trump Jr. already holds advisory and investment ties with two major prediction-market entities, Kalshi and Polymarket, both active in the same business space.

Data from Dune Analytics shows weekly trading volumes across leading prediction platforms recently reached over $2.3 billion as of Oct. 20, pointing to the rapid expansion of the event-trading market.

Trump’s crypto ventures reignite conflict-of-interest allegations

The Trump family’s growing involvement in crypto has already drawn strong criticism, and the unveiling of Truth Predict has only intensified the debate.

In the weeks leading up to the announcement, lawmakers and ethics experts issued several public statements accusing the president and his family of using political office to expand their private wealth through digital-asset ventures.

On Oct. 29, Representative John Garamendi accused the Trump administration of operating as “the most corrupt government in history.”

He cited reports of “private jet gifts from the Qataris” and “$2 billion crypto-coin investments in the Trump family,” arguing that the overlap between public power and private business had reached an unprecedented level. He called on House Speaker Mike Johnson to take action.

A day earlier, on Oct. 28, Senator Chris Murphy pointed to what he described as a troubling sequence of events surrounding Trump’s pardon of Binance founder Changpeng Zhao.

“One week after Trump pardoned Binance’s owner for crimes related to terrorist and s*x predator financing, Binance started promoting Trump crypto,” Murphy wrote.

He said the timing revealed how political authority and private promotion had become inseparable, describing the White House as “a full-time, 24/7 corruption machine.”

On Oct. 25, Representative Ro Khanna warned that “we have a president who is building more wealth through his office than any in history.”

He said such conduct amounted to corruption and announced plans to introduce a resolution banning the president, his family, and members of Congress from trading in crypto or accepting foreign payments.

The criticism began earlier in the month. On Oct. 15, Norm Eisen, a former White House ethics lawyer, said Trump “kept his business interests, then used public office to enrich himself, from foreign money to crypto schemes.”

He called it “the most corrupt presidency in modern history” and expanded on the claim in an interview for ABC Australia’s Chasing Trump’s Billions, which examined Trump’s financial operations around the world.

Repeated criticism from lawmakers and ethics experts has become a consistent backdrop to the Trump family’s expanding business activity. Each new venture linked to digital assets has renewed questions about financial transparency, disclosure standards, and the concentration of economic interests within a sitting administration.

Truth Predict’s progress will unfold within that environment, where oversight and transparency remain central to how politically connected enterprises are judged.

Dogecoin price forms triangle at $0.18, why a breakout could trigger a bullish rally

Dogecoin price consolidates within a triangle pattern at $0.18 support. A breakout from this could ignite a bullish rally toward the $0.26 high-timeframe resistance.

Dogecoin doge0.82%Dogecoin price is showing signs of consolidation as price action forms a triangle pattern at the $0.18 support zone. This technical formation reflects a phase of equilibrium following the previous impulsive move, where both buyers and sellers are accumulating momentum ahead of a decisive breakout.

While price volatility has contracted in recent sessions, the underlying structure remains intact, suggesting that the breakout direction in the coming days or weeks will determine the next major trend move for Dogecoin.

Dogecoin price key technical points:

• Support Zone: $0.18 acts as the key high-timeframe support and triangle base.
• Pattern Formation: Price consolidates within a symmetrical triangle, signaling indecision.
• Upside Target: A breakout could drive a rally toward $0.26 resistance.

From a technical perspective, Dogecoin’s price action has entered a consolidation phase, forming a symmetrical triangle pattern on the chart. This setup typically precedes a significant move once momentum returns to the market. The current high-timeframe support at $0.18 has been repeatedly tested, proving to be a strong structural level where demand continues to hold.

The equilibrium within this pattern highlights a balance between buyers and sellers, with tightening price action reflecting decreasing volatility. Historically, such compressions often precede expansion phases, meaning a directional breakoutis imminent.

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If price breaks above the upper boundary of the triangle, it could trigger a strong bullish rally toward the $0.26 resistance, marking a continuation of the broader uptrend. However, if support at $0.18 is lost on a closing basis, the bullish setup would weaken, potentially leading to a retest of lower levels before recovery.

Dogecoin remains technically healthy within its current structure. The pennant-style consolidation following an impulsive move is common in maturing bullish markets, as traders reposition for the next leg higher. For a sustained breakout, bullish engulfing candles and rising volume nodes will be essential confirmation signals.

Until a decisive move occurs, traders should expect sideways price action between $0.18 support and $0.20 resistance, with volatility likely to build up before expansion.

What to expect in the coming price action

As the triangle formation approaches its apex, Dogecoin is likely to make a directional move in the coming days or weeks. A confirmed breakout above resistance, supported by increasing volume, could initiate a rally toward $0.26 and potentially beyond.

Conversely, failure to maintain $0.18 support could extend the consolidation period before another attempt at higher levels. Overall, the technical structure remains poised for a breakout, with bulls needing to defend support to maintain the current momentum.

US stocks surge as Nvidia becomes first company to hit $5 trillion valuation

US stocks opened higher on Wednesday as Wall Street maintained an upbeat sentiment, with Nvidia becoming the first company to hit the $5 trillion valuation.

After the major indexes edged to record highs on Tuesday, fueled by Nvidia, Microsoft and OpenAI, stocks continued higher.

On October 29, 2025, with several Big Tech earnings reports on the deck, the Dow Jones Industrial Average added 250 points in early trading and benchmark index S&P 500 climbed  0.3% as it held above 6,900. Meanwhile, tech-heavy Nasdaq Composite jumped 0.6% to hit a fresh record high.

Nvidia is first company to $5 trillion valuation

The upbeat mood on Wall Street aligns with investor expectations.

Mainly, its down to top U.S.-based tech giants Microsoft, Google parent Alphabet and Meta – all report respective quarterly earnings after markets close on Oct. 29. Analysts expect solid numbers and great forecasts for the sector, noting AI will buoy bulls.

Amid this anticipation, shares of Nvidia popped more than 5% to elevate the AI chip giant to the record of world’s first company to hit and surpass the $5 trillion market value. Nvidia hit this threshold as its stock rocketed past $211 on Wednesday.

The gains see Nvidia stock’s gains notch over 52% year-to-date and over 93% in the past six months.

Nvidia pumps ahead of Fed decision

A major economy related event on Wall Street this week is the Federal Reserve meeting that ends on Oct. 29. 

Fed chair Jerome Powell is expected to announce the central bank’s policy decision later at 2pm ET, following the conclusion of the two-day FOMC meeting. Overall, market expectations lean strongly towards a 25 basis point interest rate cut. This should mark a second consecutive rate cut by the Fed, with sentiment also highly in favor of another reduction in the benchmark rate in December.

While the ongoing government shutdown has a few in jittery mode, Wall Street looks to have shrugged the halt. Notably, the release of the US consumer price index inflation data last week marked a partial lift of the economic data blackout.

The gains across Wall Street extend this week’s bullish run, the latest positive outlook aligning with trade talks, Big Tech earnings and a highly anticipated U.S. Federal Reserve rate decision. 

Elsewhere in the market, oil prices rose amid optimism around the U.S.-China trade talks and gold traded at $4,027 an ounce. Cryptocurrencies were largely subdued with Bitcoin btc-1.69%Bitcoin around $112,700 and Ethereum eth-2.1%Ethereum below $4,000.