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Trump Media and Crypto.com end Truth Social prediction market plans

Deals & M&A

Trump Media & Technology Group and Crypto.com have abandoned plans to offer prediction markets, including sports event contracts, on Truth Social. The companies also ended a separate agreement to establish a digital asset treasury company centred on Crypto.com's CRO cryptocurrency. Crypto.com chief executive Kris Marszalek said current market conditions made the proposed ETF and treasury plans unattractive.

The decision removes a planned social-media channel for sports event contracts and ends the companies’ related CRO treasury agreement.

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Deals & M&A

Flutter weighs FanDuel prediction market spending and profit potential

Flutter Entertainment chief executive Dan Taylor said on its 4 November earnings call that the company expects more clarity in the coming months on the economics of FanDuel Predicts. FanDuel recorded $119 million in trading volume in the third quarter; Flutter expects its market-making operation to generate $50 million in revenue and $40 million in adjusted EBITDA during 2026.

Dan Taylor, Flutter's chief executive, told the third-quarter earnings call on 4 November that the coming months should sharpen the company's view of how its prediction market business makes money. At issue is whether FanDuel Predicts can turn a profit by itself, or can only help recruit customers in states that could later permit online sports betting.

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