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Zuckerberg Urges Meta to Explore Working With Polymarket and Kalshi
Meta is developing 'Arena,' a prediction-market app aimed at younger users that mirrors the functionality of Polymarket and Kalshi.
What: Meta is prioritizing the development of a standalone app called Arena where users can bet on events using points rather than real money. Mark Zuckerberg is actively seeking partnerships with existing prediction platforms Polymarket and Kalshi to power the experience.
Why it matters: Meta is attempting to increase engagement among the 18-34 demographic by gamifying current events, signaling a broader industry trend of integrating betting-style mechanics into social media platforms.
Decoder
- Prediction market: A speculative market created for the purpose of making predictions where the payoff depends on the outcome of an event.
Original article
Meta is building an app that allows people to make bets on practically anything, similar to Polymarket and Kalshi. Arena, which is now a top priority within Meta, will use points instead of real money and is aimed at 18- to 34-year-olds. The company is now actively trying to form partnerships with Polymarket and Kalshi, but it is unclear what kind of arrangement Meta is seeking. If released, Arena will be a stand-alone app, but Meta eventually plans to integrate parts of it into Facebook and Messenger.
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