Meta is making an app to predict what is going to happen, report claims

Meta is working on an app to let people predict what is about to happen, according to a new report.

The tool will let people compete to guess future events, and was personally launched by chief executive Mark Zuckerberg, according to a report from the New York Times.

After Polymarket and Kalshi made waves letting folks wager cash on what happens next, this step follows close behind. While those platforms drew attention through real-money forecasts, the timing here ties directly to their rise.

Starting out, Meta might base its app on points similar to those in a video game, according to the NYT. Over time, though, users may place bets using real currency instead, the report added.

A different application, split off from Facebook and Instagram, could be how it functions – that’s what they mentioned. People inside the company call it “Arena” when talking about it.

Some think another independent app could link up, like Meta Photos, helping people create different types of media – that’s what the report said. Apps on their own have come out before, one named “Meta AI,” letting folks build and pass around artificial intelligence visuals while also handling smart eyewear made by the company.

Pulling ahead fast, prediction markets now draw big crowds thanks to folks eyeing bets on the 2024 US election. Since then, their worth has climbed sharply – people toss serious cash forecasting outcomes, not just in political races but also in sports showdowns.

These bets have stirred debate lately, some saying they’re risky while also opening doors to unfair advantages. Big moves happened right before major announcements from Donald Trump – raising concerns about profiting from private knowledge instead.

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Original Article: Meta is making an app to predict what is going to happen, report claims | The Independent