New York Times: Meta Is Building a Gambling ‘Prediction Market’

Mike Isaac and David Yaffe-Bellany, reporting for The New York Times: Polymarket and Kalshi, prediction markets where users can bet on outcomes as varied as the Super Bowl and the length of the State of the Union address, have been some of the fastest-growing destinations on the internet. Mark Zuckerberg has noticed — and he wants in on the action. Mr. Zuckerberg, the chief executive of Meta, recently dispatched a small team at his company to create a smartphone app similar to Polymarket and Kalshi, two employees with knowledge of the matter said. Users would not wager money, and the app would probably rely on a video-game-like points system instead, one person said, though the company had not ruled out the eventual use of real money betting. My first thought was that Zuckerberg is the most blatant and prolific intellectual property thief in Silicon Valley. But that’s hardly the most important news here: The world’s most famous social media company is about to launch a gambling app…