From PC Mag: Prediction markets are growing rapidly, and Mark Zuckerberg reportedly doesn’t want to miss out. The Meta CEO has assembled a team and asked them to create a standalone mobile app similar to Polymarket and Kalshi, The New York Times reports.
Meta’s rumored predictions app is called “Arena,” and it will use virtual points rather than cash. It won't be connected to any other Meta app, but the company may use those platforms to promote its new app and direct users toward it, the sources say.
The project has been classified as a top priority by Zuckerberg and is just one of the many apps the company is reportedly developing in response to emerging trends.
Prediction platforms allow you to bet on the probability of an event happening across sports, politics, finance, entertainment, and other fields. Unlike regular betting apps, the prices for contracts vary depending on supply and demand, and you can sell a contract well before an event ends. Think of it as the stock market, but for future outcomes instead of companies.
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