{"id":551,"date":"2026-06-23T20:45:37","date_gmt":"2026-06-23T20:45:37","guid":{"rendered":"https:\/\/longhaulmovingpros.com\/?p=551"},"modified":"2026-06-23T20:45:37","modified_gmt":"2026-06-23T20:45:37","slug":"meta-is-building-a-prediction-markets-app-to-challenge-polymarket-and-kalshi","status":"publish","type":"post","link":"https:\/\/longhaulmovingpros.com\/?p=551","title":{"rendered":"Meta Is Building a Prediction Markets App to Challenge Polymarket and Kalshi"},"content":{"rendered":"
\n

Mark Zuckerberg became a multibillionaire by building Facebook, the platform which more than any other ushered in the age of social media. His wealth has steadily grown since then as he\u2019s tried\u2014with varying degrees of success\u2014to capitalize on one cultural trend after another: the metaverse, AI, and Gen Z haircuts, just to name a few.<\/span><\/p>\n

Read more These Are the Headlines That Elon Musk Says Don\u2019t Exist<\/a><\/p>\n

His latest culture vulture endeavor? A predictions market app, apparently.<\/span><\/p>\n

According to a Tuesday <\/span>report<\/span> from the New York Times, Meta is currently developing a smartphone app that would work similarly to apps like Polymarket and Kalshi, through which users can place bets on events as far-flung as the outcome of sporting events, to the fluctuations of the stock market, to the success of overseas military operations.\u00a0<\/span><\/p>\n

Referred to internally as \u201cArena,\u201d Zuckerberg\u2019s planned prediction markets app is reportedly being built by a small team within Meta and would operate separately from the company\u2019s other apps, which include Facebook, Instagram, WhatsApp, and Messenger. Citing anonymous sources, the Times report also said it was possible the project would be killed before it becomes publicly available. <\/span>Unlike Polymarket and Kalshi, users of Meta\u2019s app would not bet actual money, but would rather be rewarded via a video game-like point system. The unnamed sources also told the Times, however, that eventually making it possible to bet money through the app wasn\u2019t entirely off the table.<\/span><\/p>\n

\n<\/div>\n

The not-so-glorious rise of prediction markets<\/b><\/h2>\n

Prediction market apps first went viral among political aficionados during the 2024 U.S. presidential elections and have since become a major cultural phenomenon.\u00a0<\/span><\/p>\n

Kalshi, founded in 2018, announced a valuation of <\/span>$22 billion<\/span> in May\u2014a figure double that which the company had <\/span>reported<\/span> just six months earlier. The total value of bets made on prediction market apps hit a new record of just a little under $30 billion last month, a jump of 588% from the same time the previous year, according to <\/span>data<\/span> from Dune, a data analytics site tracking the cryptocurrency industry. Most of that\u2019s a losing bet, though: An <\/span>analysis<\/span> conducted by the Wall Street Journal and published last month found that the vast majority of all profits within prediction market apps go to a tiny minority of betters.\u00a0<\/span><\/p>\n

Read more Microsoft\u2019s Revised Surface Laptop Is Cheaper\u2014and Worse\u2014Than Before<\/a><\/p>\n

\n<\/div>\n

Zuckerberg isn\u2019t the only one with dollar signs in his eyes as he sets his sights on prediction markets. Donald Trump Jr., the president\u2019s eldest son, is <\/span>reportedly<\/span> serving as an adviser to both Polymarket and Kalshi, and the family\u2019s media company has launched its own prediction market site called TruthPredict.ai. The uppermost wager on the site\u2019s homepage: \u201cTrump Wins 2028 Election\u201d; at the time of this writing, 60% have voted \u201cYes,\u201d 40% \u201cNo.\u201d<\/span><\/p>\n

Regulators are eyeing prediction markets, too<\/h2>\n

But the industry\u2019s explosive popularity and profitability has also attracted the attention of federal regulators. In one high-profile case from earlier this year, a U.S. army soldier with access to classified military information allegedly won more than $400,000 after he placed bets on Polymarket related to <\/span>Operation<\/span> Absolute Resolve, the U.S. military\u2019s <\/span>operation<\/span> in Venezuela that culminated in the abduction of the country\u2019s president, Nicol\u00e1s Maduro, and his wife. The soldier was later <\/span>charged by federal prosecutors<\/span> for using nonpublic information for personal gain.<\/span><\/p>\n

\n<\/div>\n

Last month, the House Committee on Oversight and Government Reform\u2014an investigative unit within the U.S. House of Representatives\u2014<\/span>launched a probe<\/span> into Polymarket and Kalshi aimed at understanding how they enforce against insider trading and other abuses.<\/span><\/p>\n

Meta will undoubtedly be paying close attention to how the legal landscape surrounding prediction markets changes in the coming months. But where many people see a Wild West, Zuckerberg very likely sees a Gold Rush.<\/span><\/p>\n

Read more Softbank CEO Shoots Down Musk\u2019s Plan for Orbital Data Centers as SpaceX Stock Falls Back to Earth<\/a><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The Trump family and federal prosecutors have had their eyes on the industry, too.<\/p>\n","protected":false},"author":1,"featured_media":550,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commerce"],"yoast_head":"\nMeta Is Building a Prediction Markets App to Challenge Polymarket and Kalshi - Long Haul Moving Pros<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/longhaulmovingpros.com\/?p=551\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meta Is Building a Prediction Markets App to Challenge Polymarket and Kalshi - Long Haul Moving Pros\" \/>\n<meta property=\"og:description\" content=\"The Trump family and federal prosecutors have had their eyes on the industry, too.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/longhaulmovingpros.com\/?p=551\" \/>\n<meta property=\"og:site_name\" content=\"Long Haul Moving Pros\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-23T20:45:37+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/longhaulmovingpros.com\\\/?p=551#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/longhaulmovingpros.com\\\/?p=551\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/longhaulmovingpros.com\\\/#\\\/schema\\\/person\\\/ed9c8f732aec56889e8fd0602fe5af4b\"},\"headline\":\"Meta Is Building a Prediction Markets App to Challenge Polymarket and Kalshi\",\"datePublished\":\"2026-06-23T20:45:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/longhaulmovingpros.com\\\/?p=551\"},\"wordCount\":673,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/longhaulmovingpros.com\\\/?p=551#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/longhaulmovingpros.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/76f05f810b2513458b861954cae93c73.webp\",\"articleSection\":[\"Commerce\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/longhaulmovingpros.com\\\/?p=551#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/longhaulmovingpros.com\\\/?p=551\",\"url\":\"https:\\\/\\\/longhaulmovingpros.com\\\/?p=551\",\"name\":\"Meta Is Building a Prediction Markets App to Challenge Polymarket and Kalshi - 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