Meta is reportedly testing an internal prediction market app called Takes, with employees wagering on events and questions using credits rather than real money, according to a WSJ report. The testing phase is a step the company often takes before a product is released to the public.
In the test, employees use Cred to place bets on events, the report said. Correct predictions earn points, while incorrect predictions result in lost points. The app remains under development.
From Arena to Takes
Details about the planned Meta prediction market app first emerged earlier this year. CoinGape reported in June that Meta initially called the app Arena when it began development. The current name, Takes, could still change before a public release.
Potential Rivalry and Regulatory Scrutiny
With Takes, Meta could rival established prediction market platforms such as Polymarket and Kalshi. It remains to be seen whether Meta would allow wagers with real money, as those platforms do, or keep using Cred to award points.
A potential rollout could arrive as prediction markets face pushback from state regulators, who argue the platforms operate as illegal betting sites. Louisiana recently sued prediction market platforms, becoming the 13th state to bring an enforcement action against the industry. Louisiana argues the platforms are offering illegal gambling.
