Meta plans to release AI-powered prediction market app, documents show

Technology Meta plans to release AI-powered prediction market app, documents show June 24, 20262:39 PM ET Bobby Allyn Meta is planning to release its own prediction market app to compete with popular sites like Kalshi and Polymarket. Kelly Sullivan/Getty Images North America hide caption toggle caption Kelly Sullivan/Getty Images North America Meta is planning to launch its own prediction market app to compete with companies like Kalshi and Polymarket in a booming sector that some analysts project could become a $1 trillion industry in the coming years. Meta CEO Mark Zuckerberg has instructed a team to start building a standalone app called Arena where people can guess the outcome of real-world events, according to two employees who were not authorized to speak publicly about the project. Meta's plans to build a prediction market app were first reported by The New York Times. NPR obtained internal Meta documents about the effort that have not been previously reported. Sponsor Message Technology TV antennas and Super Bowl rehearsals: How prediction market traders seek an edge The documents describe how instead of wagering real money, users of the new app will receive "a daily virtual allotment" of "play money" that can be used to bet on "the outcome of future events." On the most popular prediction market apps, Kalshi and Polymarket, traders bet billions of dollars a week on everything from what Rotten Tomatoes score a forthcoming movie will receive to when Israel will drop bombs on Iran. While it is unclear what range of topics Meta hopes to cover with its prediction market, the company is planning to use artificial intelligence to drive the service, according to the internal documents. Business Kalshi reveals insider trading case against editor for MrBeast The new app, which has been codenamed "Antwerp" and "FBForecast," will use Llama, the company's large language model, to automatically generate questions from trending topics. Meta's AI will also make "personaliz...