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Trump Family Shifts Focus to Prediction Markets Amid Casino Challenges

KVIA•Saturday, March 21, 2026 at 11:14 AM•CNN Newsource

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AI Summary

Following the decline of their casino empire, the Trump family is now venturing into the burgeoning prediction markets, where individuals can wager on a variety of events. Trump Media and Technology Group plans to launch a cryptocurrency-based prediction platform called Truth Predict, while Donald Trump Jr. advises major prediction firms Kalshi and Polymarket. This shift comes as the Commodity Futures Trading Commission (CFTC), under Trump's appointed officials, seeks to regulate these markets differently from traditional gambling, raising ethical concerns. The casino industry, which has historically supported Trump politically, is now apprehensive about the competition posed by these prediction markets, claiming they could undermine their business. The prediction market industry has exploded, with global spending exceeding $5 billion weekly as the 2024 elections approach.

Key Details: • Truth Predict to launch as a cryptocurrency-based prediction platform. • Donald Trump Jr. advises Kalshi and Polymarket, two major prediction companies. • CFTC is working on regulations to protect prediction markets from state gambling laws. • Global spending on prediction markets exceeds $5 billion weekly. • Concerns raised about potential conflicts of interest due to Trump's involvement.

politics trump ethics gambling prediction-markets

People & Organizations

Donald TrumpDonald Trump Jr.KalshiPolymarketCommodity Futures Trading CommissionChris ChristieDavis IngleAndrew SurabianTrump Media and Technology Group

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