Trump-Musk press conference sparks $10M prediction market frenzy

President Donald Trump and Elon Musk are scheduled to hold a press conference within the hour — and traders are placing millions of dollars on what Trump might say during the event.On crypto prediction market Kalshi, users have collectively wagered over $10 million across contracts that bet on specific words Trump could mention during his appearance with Musk. Trump and Elon are set to speak in an hourTrade on what they’ll say⬇️— Kalshi (@Kalshi) May 30, 2025These include hot-button topics like “SpaceX” (trading at $0.68), “Biden” ($0.70), and “Stock” ($0.51), meaning a user who spends $51 would receive $100 if Trump says “stock” during the conference.The event was originally set for 1:30 p.m. ET and is being treated like a crypto earnings call — complete with live odds, last-minute speculations, and a flood of meme-posts. Some bettors are hedging on safer words like “inflation” or “crime,” while others are taking riskier punts on whether Trump might bring up “Woke” ($0.27), “Cybertruck” ($0.24), or even “Wife” ($0.14).Musk, for his part, added fuel to the frenzy just yesterday, announcing on X that he’s “no longer involved with DOGE.”Kalshi becomes Wall Street’s trump trackerKalshi, a CFTC-regulated prediction platform, has become the go-to destination for real-money wagers on political and economic events. For this press conference alone, over $10 million worth of contracts have been bought and sold — with the platform set to resolve the results based on official video footage and transcripts from major outlets like CNN, Reuters, and The New York Times.As of press time, the Trump-Musk conference hadn’t yet started. But millions of dollars — are on the line.