Mark Zuckerberg Looking To Start His Own Polymarket Rival – Kotaku

Fresh off a failed metaverse, Facebook founder Mark Zuckerberg is reportedly looking to enter the booming but ethically rancid world of prediction markets. Rivaling other platforms like Polymarket and Kalshi, the app internally known as “Arena” is looking to integrate the company’s massive user base into gambling over anything and everything. “We believe that prediction markets are one of the more interesting new content types,” writes Meta’s Ime Archibong in an internal post leaked to The New York Times . “With the right containers, the social conversation is the payoff as people aim to show off how good they are at predicting things to their friends.” According to The Times, the plan is to launch Arena as a standalone app and, if successful, harmonize it with Meta’s sprawling social media empire. The incentive is clear, with billions wagered away on these speculative markets every year. The Times also says that Arena is causing internal conflict amid Meta staff, as the ethics and legality of these platforms have only continued to grow murky. Though Polymarket is the leading brand, it’s also the most precarious. Many countries have outright banned it, and even in North America access varies from region to region.
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