Meta (NASDAQ:METAheld meetings with Kalshi about a potential acquisition before deciding to launch its own prediction market.
According to reports, Meta CEO Mark Zuckerberg Met with Kalshi CEO Tarek Mansur While the details remain unclear, the controversy dissipated when Meta decided to launch its own prediction market called Arena, and Kalshi went it alone.
It is said that the Arena will not accept money from bets and event questions will be guided by artificial intelligence.
Meanwhile, Kalshi is growing rapidly, with an annual trade volume approaching $200 billion and revenue exceeding $1.5 billion. The number of monthly active users is approximately 5 million people. Its valuation is around 40 billion dollars. Kalshi is also said to be An IPO is being considered.
While sports betting dominates event engagements, a more recent foray into cryptocurrencies has given users another reason to sign up for the platform.
Meta shares are on the rise today not because of prediction markets, but because of reports that the platform will soon offer cloud computing services, thus competing with the likes of Amazon’s AWS platform.
