Prediction markets surged in popularity during the 2024 U.S. presidential election and have evolved into an asset class that lets investors wager on a variety of events
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Meta is reportedly developing a new app, codenamed 'Arena,' designed to function like prediction markets such as Polymarket and Kalshi. Initially, it will likely use a points system, with the possibility of real-money wagering later. This move taps into the growing popularity of prediction markets, which have seen significant interest during the U.S. presidential election.
