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Meta Is Betting Big on Predictions. Again.
Mark Zuckerberg is placing a bet on prediction markets. The Meta CEO recently directed a small team to build a new smartphone app called Arena. It will operate independently from Facebook and Instagram. The goal is to compete with fast-growing platforms like Polymarket and Kalshi. Prediction markets are everywhere right now. They have exploded into a cultural phenomenon. You see them mentioned during major sports events and even at award shows. Users wager on anything from politics to the Super Bowl. It is like the stock market but for future outcomes instead of companies. This is not Meta's first attempt at this concept. The company already tried this with a previous app. It shut down quietly just a few years ago. So why try again? And what happened the first time? The Arena Strategy Arena will not involve real money at launch. Users will likely use a video game-style points system instead. Think of it like collecting points for making accurate predictions. You compete fo...