Meta Tests Internal Prediction-Market App Among Its Employees

what happened

Meta Platforms employees have started testing a prediction-market app that is currently called Takes, the Wall Street Journal reported, citing people familiar with the matter. The company often tries new products internally before a public launch.

In the app, participants wager on the outcome of questions and events using an internal currency called cred, short for credibility. No real money is involved: correct predictions earn points and wrong ones cost them. One question asked whether Tim Cook would become the next CEO of Nvidia, and most voters bet that he would not.

Meta declined to comment. It is unclear when, or whether, the app will be released publicly. The New York Times previously reported that Mark Zuckerberg had directed a team to build such an app, which was internally called Arena over the summer.

why it matters

Prediction platforms Kalshi and Polymarket have grown in popularity, especially among younger users, and several states have sued them, calling them illegal gambling operations. For markets, the signal matters more than the product: a major social network is looking at this niche, but for now it is a no-money experiment with no visible effect on Meta or rival shares.

market impact

Meta and prediction markets: an internal no-money test, with no visible effect on shares so far

tags

instruments

on polymarket