Zuckerberg plans Polymarket clone minus real money
▼ Summary
– Meta CEO Mark Zuckerberg has assigned a small team to develop a prediction markets app similar to Polymarket and Kalshi.
– The app, internally named “Arena,” will likely allow users to bet using points rather than real money initially.
– Meta has not ruled out eventually permitting real-money wagers in the app.
– This project is another instance of Meta cloning a popular feature from another company, following its copies of Snapchat Stories and TikTok’s vertical video format.
Meta CEO Mark Zuckerberg has instructed a small internal team to build an app that functions like prediction market platforms Polymarket and Kalshi, as reported by The New York Times. The project, code-named “Arena,” is designed to let users bet with points rather than real currency, though Meta has not entirely dismissed the idea of introducing real-money wagering down the line.
If Arena reaches the public, it will mark another instance of Meta taking a proven concept from a rival and creating its own version. The company has a well-documented history of this strategy, having previously cloned Snapchat’s Stories format and TikTok’s vertical video feed. This approach has allowed Meta to absorb successful features while maintaining control over the user experience and data.
By focusing on point-based betting, Arena would sidestep the regulatory hurdles that real-money prediction markets face in many jurisdictions. Polymarket and Kalshi, for example, operate under specific legal frameworks that Meta might prefer to avoid initially. The move aligns with Meta’s broader push into interactive and social features that keep users engaged within its ecosystem.
(Source: The Verge)
