Mark Zuckerberg wants Meta to launch its own prediction market

Mark Zuckerberg is betting that prediction markets are the future. The New York Times reports that Zuck wants Meta to have its own Polymarket-like smartphone app, and has given the go-ahead to develop one, internally calling it “Arena.” The app would be independent of Meta’s other social media offerings, although sources told the paper that those social sites could direct users to engagement with the app. Described as “experimental but a top priority,” sources said the current concept for Arena is that it weirdly wouldn’t involve money. Instead, it would essentially be a video game where users would earn points for betting correctly on particular topics. The sources added that money could be added later. Over the past year, prediction markets have fueled big profits and controversy. As of April, trading volume on platforms such as Polymarket and Kalshi had reached tens of billions of dollars. Other social media sites — like X (which forged a partnership with Polymarket last summer) — have sought to capitalize on the industry. Legal cases have also spiked. A notable case involves a former high-ranking special forces soldier who was accused of using insider knowledge to profit from the operation to capture Venezuelan President Nicolás Maduro. George Santos is also currently under investigation over alleged Kalshi trades. States have also begun to sue prediction markets over what they allege are violations of gambling laws. To complicate things further, the current administration, which is decidedly pro-prediction market, has sued states for having sued prediction markets. Last chance to save up to $190 on TechCrunch Founder Summit. Join 1,000+ founders and VCs at all stages for real-world scaling insights and connections that move the needle.Savings end June 26, 11:59 p.m. PT. Newsletters See More Subscribe for the industry’s biggest tech news Every weekday and Sunday, you can get the best of TechCrunch’s coverage. TechCrunch Mobility is your destination for transportation news and insight. Startups are the core of TechCrunch, so get our best coverage delivered weekly. Provides movers and shakers with the info they need to start their day. By submitting your email, you agree to our Terms and Privacy Notice. --- **İlgili Kaynaklar:** Detaylı SEO ve GEO eğitim platformu için [GEO eğitim](https://geoakademi.com) sayfasını incelemenizi öneriyoruz.