Polymarket · Meta · Mark Zuckerberg · New York · NPR Technology
Meta aims to release AI-powered prediction market app, documents show
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Meta is planning to release its own prediction market app to compete with popular sites like Kalshi and Polymarket.
Key facts
- And more than 70 other companies have launched prediction market projects or services, according to Event Horizon, a newsletter that tracks the prediction market industry
- Meta is planning to launch its own prediction market app to compete with companies like Kalshi and Polymarket in a booming sector that some analysts project could become a $1 trillion industry
- We're clearly in legal limbo," said Wallach, noting the more than 30 pending lawsuits over the legality of prediction markets
- More than 3 billion people use at least one Meta app every day, including Facebook, Instagram, WhatsApp and Threads
Summary
Meta is planning to launch its own prediction market app to compete with companies like Kalshi and Polymarket in a booming sector that some analysts project could become a $1 trillion industry in the coming years. Meta CEO Mark Zuckerberg has instructed a team to start building a standalone app called Arena where people can guess the outcome of real-world events, according to two employees who were not authorized to speak publicly about the project. Meta's plans to build a prediction market app were first reported by The New York Times. NPR obtained internal Meta documents about the effort that have not been previously reported.