Zuckerberg reportedly wants to clone Polymarket – but without the real money

Mark Zuckerberg, CEO of Meta, tasked a small team at the company with creating an app that would work like prediction markets Polymarket and Kalshi, according to New York Times. The app, internally called “Arena,” will not allow users to bet real money, but instead “will likely rely” on allowing users to bet points, now He says – although Meta apparently hasn’t ruled out eventually allowing people to bet with real money.

If Meta launches publicly, it will be just the latest example of Meta taking a popular idea from another company and building its own version, as it did when it cloned Snapchat Stories’ format and TikTok’s vertical video feed. However, prediction markets have also been rife with controversy, including users being arrested for their status Suspicious Bets. The Wall Street Journal also I mentioned recently That Polymarket People pay to post fake videos of themselves betting.

Arena is set to be independent from other Meta apps, though the company plans to direct users to it from its other platforms. According to nowMeta insiders described the application as a “top priority.” Meta and Polymarket did not immediately respond to a request for comment. Calci spokeswoman Laura Frank declined to comment.