Will Meta's prediction market 'Arena' may destroy Polymarket and Kalshi?

Watch on YouTube

Now Playing

Transcript

25 segments

0:00

Meta is looking into creating a

0:02

prediction markets platform for itself.

0:04

Arena is what it's calling it. It sort

0:06

of reflects Mark Zuckerberg's playbook

0:08

in the past.

0:09

>> This also isn't the first time Meta

0:10

tried this. Back in 2020, they released

0:13

Forecast, which was a crowdsourced

0:16

prediction market-esque model right

0:19

around the COVID pandemic of predicting

0:21

things happening in the world. But, they

0:22

shut that down in 2022.

0:24

>> Obviously, it says something about the

0:25

hotness of of prediction markets. Is it

0:27

>> Is this another metaverse or, you know,

0:29

Meta assets?

0:30

>> this going to work for them?

0:31

>> If you take Polymarket and Kalshi,

0:34

they're growing very fast. They become

0:35

two of the most popular uh platforms in

0:38

the world in a very short span of time.

0:40

But, if Meta gets into this arena, I

0:43

think if they did it the right way, they

0:45

would destroy Polymarket and Kalshi

0:47

because Meta just has the distribution.

Interactive Summary

Ask follow-up questions or revisit key timestamps.

Meta is reportedly developing a prediction markets platform called 'Arena,' drawing on the company's historical interest in the space and building on its massive distribution capabilities to potentially challenge existing competitors like Polymarket and Kalshi.