According to ME News, on June 24 (UTC+8), Meta CEO Mark Zuckerberg recently dispatched a team to develop a standalone smartphone app called Arena, independent of Facebook and Instagram, aimed at competing with major prediction markets such as Polymarket and Kalshi. The app is currently in internal development and experimental in nature; users will not wager real money but instead use a points system similar to that of video games, though the eventual use of real currency for betting is not ruled out. Additionally, Meta is testing another standalone app called Meta Photos, which will leverage AI technology to create new forms of media. Meta has declined to comment on these initiatives. (Source: ODAILY)
Meta is developing a prediction market app called Arena to compete with Polymarket and Kalshi.
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Meta is developing a new app called Arena to compete with prediction market platforms such as Polymarket and Kalshi. Currently in internal testing, the app uses a points-based system for betting, though real-money functionality may be introduced later. Arena is separate from Facebook and Instagram. Meta is also working on Meta Photos, an AI-powered media app. This development comes as altcoins to watch gain momentum amid shifting market sentiment, with the Fear & Greed Index showing mixed signals. Meta did not respond to requests for comment.
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