Meta Said to Be Developing Prediction-Market App to Rival Polymarket, Kalshi
Summary
- Meta is developing Arena, a prediction-market app similar to Polymarket and Kalshi.
- The app will operate separately from Facebook, Instagram and WhatsApp, and is likely to begin with a game-points system instead of real-money wagers.
- Meta is also considering the possibility of introducing betting features using real money in the future.
Forecast Trend Report by Period
Meta Platforms Inc. is developing a prediction-market app similar to Polymarket and Kalshi, the New York Times reported on June 23.
Chief Executive Officer Mark Zuckerberg directed the project, according to the report.
The app, called Arena, is being developed to operate separately from Facebook, Instagram and WhatsApp.
The report said the app is likely to start with a game-points system rather than real-money wagers. Meta is also considering whether to add betting features using real money in the future.
The Times said Meta's move into prediction markets is part of Zuckerberg's strategy to launch new services in response to changes in online user behavior.
reporter1@bloomingbit.ioHello, I'm a reporter at bloomingbit
