Mark Zuckerberg ordered Meta staff to develop moneyless prediction market: NYT
Meta CEO Mark Zuckerberg has reportedly directed his staff to create a prediction markets mobile app called “Arena” in what could become a challenge to platforms like Kalshi and Polymarket.
According to a Tuesday New York Times report citing two employees with knowledge of the matter, Zuckerberg ordered the development of the prediction markets app that would allow users to place wagers using a points system rather than money. The app will reportedly function independently of Meta’s existing platforms, including Facebook and Instagram.
The news outlet said insiders described the effort as experimental but a top priority for the company. If launched, it could challenge Kalshi’s and Polymarket’s market share for prediction markets, with Meta reporting its apps drew in 3.56 billion users daily as of March.