Meta Bets on Prediction Markets as It Hunts for Next-Growth Engine (Report)
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Meta is building a standalone prediction markets app called Arena that will let users place bets on real-world outcomes using non-monetary points rather than cash. By channeling Facebook, Instagram and WhatsApp audiences to the new product, the rollout could drive mainstream adoption and awareness of prediction markets and related crypto and DeFi concepts even without an immediate token launch or on-chain wagering.
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Meta is reportedly developing a prediction markets app that it’s calling Arena, which would allow users to place bets on real-world outcomes with points rather than actual money.
The app would be separate from Facebook, Instagram, WhatsApp and Messenger, the New York Times says, and Meta plans to grow it by channeling its existing social audience to the new product.
