Oct 28 (Reuters) - Trump Media and Technology Group ( DJT )

said on Tuesday it will introduce prediction markets on

its social media platform Truth Social through a partnership

with Crypto.com, as event-driven markets continue to make

inroads into mainstream finance.

The collaboration, involving streaming platform Truth+,

fintech brand Truth.Fi and exchange and clearinghouse

Crypto.com, will begin beta testing live on Truth Social in the

near future, followed by a full launch in the U.S.

Trump Media ( DJT ) plans to launch the service globally once all

the requisite requirements are met.

Prediction markets allow users to profit from forecasting a

wide range of events, including sports, entertainment, politics,

and economic trends. Trading in these event-based contracts has

gained momentum since last year's U.S. presidential election.

And as interest grows, prediction markets are increasingly

seen as a serious contender for broader acceptance in financial

circles, with some experts touting them as more accurate than

traditional polls, particularly in tightly contested scenarios.

Critics, however, argue that these markets are little more

than "digital casinos".

"For too long, global elites have closely controlled these

markets - with Truth Predict, we're democratizing information

and empowering everyday Americans to harness the wisdom of the

crowd, turning free speech into actionable foresight," said

Devin Nunes, Chairman and CEO of Trump Media ( DJT ), said.

Earlier this year, Trump Media ( DJT ) and Crypto.com had agreed to

a deal with a blank-check acquisition company to launch a new

venture that will pursue a treasury-style strategy to accumulate

the cryptocurrency platform's native token CRO, deepening the

ties of U.S. President Donald Trump to the industry.

"Prediction markets are poised to be a multi-deca-billion

dollar industry," said Crypto.com CEO Kris Marszalek.

Kalshi and Polymarket, two of the largest prediction markets

globally, have received a lot of interest from venture capital

firms and other investors in recent months, solidifying the

reach and engagement of prediction markets.

Polymarket had secured an investment from Trump Jr-backed

1789 Capital earlier in the year.