Mark Zuckerberg Wants a Prediction Market Too: NYT
Meta may be preparing a new push into prediction markets, with Zuckerberg reportedly backing an internal app called “Arena” that lets users make event forecasts using points rather than real money. The project is still experimental, but Meta hopes its huge Facebook and Instagram audience could drive adoption. The move comes as prediction markets gain traction and attract interest from major firms like Intercontinental Exchange, DraftKings, and Robinhood. This would continue Meta’s pattern of crypto-adjacent bets: the failed Libra/Diem stablecoin effort, the abandoned Forecast prediction app from 2020, heavy metaverse spending, and Instagram’s short-lived NFT support. Meta has also faced regulatory scrutiny over these initiatives. At the same time, it has recently expanded some crypto support, including allowing creators to receive USDC earnings directly in crypto wallets.
