Mark Zuckerberg · Meta · Facebook · Instagram · Decrypt
Mark Zuckerberg Wants a Prediction Market Too: NYT
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★ Tier-1 Source
First it was stablecoins.
Key facts
- What’s more, Meta has reportedly poured $80 billion into Zuckerberg's vision for the metaverse
- The company faced intense pushback on Capitol Hill in 2019 after unveiling a stablecoin called Libra and an accompanying digital wallet named Calibra
- Under Mark Zuckerberg, Meta has made a series of bets on crypto-adjacent tech, and now the social media giant could be preparing for its next one in light of Polymarket and Kalshi’s surging
- Meta has tried to establish a prediction market before, notably Forecast
Summary
Internally dubbed “Arena,” Meta is experimenting with a prediction market platform that will allow users to make predictions using points. Meta hopes to utilize its billions of users across Facebook, Instagram, and other social networks to drive mainstream adoption. The platform would mark another bet on crypto-adjacent tech, following Meta’s attempts at cornering stablecoins and the metaverse. Under Mark Zuckerberg, Meta has made a series of bets on crypto-adjacent tech, and now the social media giant could be preparing for its next one in light of Polymarket and Kalshi’s surging popularity, The New York Times reported on Tuesday.