Meta CEO Mark Zuckerberg is now working on creating a prediction market mobile app similar to Polymarket and Kalshi. According to a recent report, they have formed a small team to create a similar mobile app, which will develop an app which can initially be a game-like market prediction platform.
According to the report of The New York Times, in this app, users will be able to predict about events like elections, sports, entertainment or technology and instead of winning or losing real money, they will be able to earn rankings, points, badges and rewards. However, in the future, the company can also bring the option of monetary betting by investing money in it.
Meta can use user base to promote app
It has been told in the report that this app is being called Arena and it will work as a standalone app with its own identity. Meta to promote this app and attract users Facebookcan use its user base on Instagram, WhatsApp and Messenger.
Meta launched this prediction app in 2020
It is being said that currently the Arena app is being given the highest priority and it will be built mainly on the basis of emerging social behaviours. However, this is not the first time Meta has experimented with a prediction app, earlier in 2020 the company launched Forecast, which was a crowdsourced prediction market app where users made predictions about real-world events. However, this app did not become very popular due to which it was discontinued in 2022.
Apps with turnover of more than 130 billion dollars
Recently, prediction markets are becoming increasingly popular in many areas, Polymarket and Kalshi together have made a business of more than 130 billion dollars (about 12.30 lakh crores) in 2026.
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