Meta plans to release AI-powered prediction market app, documents show – NPR

Meta is planning to release its own prediction market app to compete with popular sites like Kalshi and Polymarket. Kelly Sullivan/Getty Images North America hide caption toggle caption Kelly Sullivan/Getty Images North America 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. The documents describe how instead of wagering real money, users of the new app will receive “a daily virtual allotment” of “play money” that can be used to bet on “the outcome of future events.” On the most popular prediction market apps, Kalshi and Polymarket, traders bet billions of dollars a week on everything from what Rotten Tomatoes score a forthcoming movie
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