Targeting Generation Z ahead of public launch

Virtual points replace real money in betting

The Meta logo. [Reuters]
The Meta logo. [Reuters]

Meta, the company behind Facebook and Instagram, is internally testing a prediction market app, with a public launch expected to put it in direct competition with existing platforms such as Polymarket and Kalshi.

The Wall Street Journal reported Friday (local time), citing multiple sources, that Meta is running an internal test of a prediction market app called Takes.

The test is part of a "dogfooding" process, in which employees use a new service before it is released to the public. The app's name and features could change before any official launch.

According to the Wall Street Journal, Takes currently features a question asking whether Tim Cook, former Apple CEO, will become the next CEO of Nvidia. Most Meta employees who participated reportedly bet against the proposition.

Unlike Polymarket or Kalshi, Takes does not involve real money. Instead, users participate in predictions by wagering virtual points called "Cred."

Meta's push into prediction markets came at the direction of CEO Mark Zuckerberg. The New York Times reported in June that Zuckerberg had assembled a small team and directed it to develop a prediction market app.

Meta plans to funnel existing users of Facebook, Instagram and Threads into the new app. The move is widely seen as an effort to retain younger users — particularly Generation Z, who have shown strong interest in prediction markets — and boost engagement across its services.

This is not Meta's first foray into prediction services. The company launched a prediction platform called Forecast in 2020 but shut it down after two years.

A potential headwind looms, however: some US lawmakers have called for tighter regulation of prediction markets, viewing them as a form of illegal gambling. Meta's decision to use virtual points rather than real cash is believed to reflect those regulatory concerns.


hajun825@heraldcorp.com