Mark Zuckerberg · Polymarket · Meta · New York · Instagram · Engadget
Meta reportedly dips its pathetic toes into the prediction market space
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
A new app could compete with Polymarket and Kalshi.
Key facts
- There was the prediction market app Forecast, which opened up shop in 2020 and shuttered in 2022
- Mark Zuckerberg has directed Meta to create a prediction markets app, according to a report by The New York Times
- Instagram Stories followed the success of Snapchat and Facebook Reels came after TikTok
- The New York Times has also reported that the Arena app will likely rely on a video-game like points system, instead of money
Summary
Mark Zuckerberg has directed Meta to create a prediction markets app, according to a report by The New York Times. Company insiders have stated that this is a top priority for Zuckerberg and Meta. The New York Times has also reported that the Arena app will likely rely on a video-game like points system, instead of money. People use these platforms because they think they can win a lot of money betting on things like the temperature in Paris or doing insider trading. Meta has experimented with its own version of prediction markets in the past. This is also not the first time Meta and Zuckerberg have "paid homage" to something that was making waves somewhere else on the internet.