EXCLUSIVE: Donald Trump Accused of Turning America Into His 'Personal Casino' Over Plan to Launch Political Gambling Platform
Donald Trump has been facing brutal backlash over plans for a political betting platform.
May 14 2026, Published 11:37 a.m. ET
Donald Trump has been accused of turning America into his "personal casino" after a plan to launch a cryptocurrency gambling platform tied to his family's media empire sparked fresh conflict-of-interest concerns around the White House and the booming prediction market industry.
RadarOnline.com can reveal the new service, Truth Predict, is being launched by Trump Media & Technology Group, the company behind Truth Social, which is majority-owned by the 79-year-old president and his family.
Trump's Crypto Betting Venture Sparks Democracy Concerns
Donald Trump faced accusations of turning the country into a personal casino.
The platform will allow users to place cryptocurrency bets on political races, sports events, and economic developments through a partnership with an affiliate of Crypto.com.
Trump's move comes as crypto prediction markets continue their explosive growth following the 2024 US election, with industry giants Polymarket and Kalshi reaching multibillion-dollar valuations.
Critics told us the plan has the potential to "dangerously blur" the line between political power and private profit.
One source said: "Trump is effectively turning the presidency into a casino floor. If this political gambling platform launches, it will give him and his family the power to cash in on every policy move he makes. It is unreal a president of the United States is proposing this – it is the type of thing you would not even get in a tinpot dictatorship.
"Proposing a platform where people can gamble on politics is a threat to democracy itself."
An online gambling industry insider added: "The concern is not just about crypto or prediction markets – it is that the same people shaping policy are positioned to profit from the outcome."
Truth Predict Pushes Political Gambling Into the Mainstream
Trump Media & Technology Group launched a new cryptocurrency gambling service.
Prediction markets surged into mainstream attention during the 2024 presidential race, when supporters argued they offered a more accurate alternative to traditional polling.
Devin Nunes, the chief executive of Trump Media & Technology Group and former Republican congressman, said in a statement: "With Truth Predict, we're democratizing information and empowering everyday Americans to harness the wisdom of the crowd, turning free speech into actionable foresight."
Truth Predict is entering an increasingly controversial market at a pivotal moment for the crypto industry.
Polymarket Investigation and Trump-Era Crypto Policy Shift
Devin Nunes described the new venture as a way to democratize information.
Polymarket withdrew from the United States in 2022 following a settlement with the Commodity Futures Trading Commission, which alleged the company had operated an unregistered derivatives trading market.
In November 2024, the home of Polymarket chief executive Shayne Coplan was raided by the Federal Bureau of Investigation during a Department of Justice investigation into whether the company had continued accepting bets from US users.
Coplan was never arrested or charged.
The regulatory climate shifted dramatically after Trump returned to the White House in January.
Under the administration, regulators have retreated from litigation against major crypto firms, while prosecutors were instructed to deprioritize certain crypto-related offenses.
In July, Bloomberg reported the Department of Justice had ended its investigation into Polymarket without filing charges, clearing a path for its return to the US market.
Zach Hamilton, founder of crypto startup Sarcophagus, said: "If you had to point to one reason (crypto prediction markets) are able to come back to the US, you have to point to the Trump administration. Donald Trump. I mean, that's it."
Trump Family Crypto Investments Face Conflict Questions
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Donald Trump Jr. joined the advisory board of a major prediction market firm.
The Trump family's financial ties to the sector have already drawn scrutiny.
In August, Polymarket was handed an investment from 1789 Capital – a venture capital firm where Donald Trump Jr. serves as a partner.
Trump Jr. then joined Polymarket's advisory board.
Jeff Hauser, executive director of the watchdog group Revolving Door Project, said: "No one is saying members of the president's family cannot engage in normal capitalist activities in a capitalist country. But Polymarket is the subject of heated political controversy. As such, the investment reflects a significant conflict of interest – and an avoidable one."
A White House spokesperson insisted: "Neither the president nor his family has ever engaged, or will ever engage, in conflicts of interest."
