Meta is building its own prediction market app after acquisition talks with Kalshi — the regulated prediction market platform — broke down last year without a deal.
Mark Zuckerberg met directly with Kalshi’s CEO to discuss a potential purchase. The two sides didn’t get there. Now Meta is developing a competing product in-house rather than buying its way into the space.
Background
Kalshi is one of the better-known regulated prediction market platforms in the United States. It lets users buy and sell contracts tied to the outcome of real-world events — elections, economic data, sports results. The company has drawn significant attention as interest in prediction markets has grown among both retail users and institutional players.
Meta hasn’t said publicly when its prediction market app would launch or what it would look like. No pricing, no timeline, no partnership details have been disclosed.
Zuckerberg’s direct involvement in the Kalshi talks suggests Meta sees prediction markets as more than a side project. Whether that appetite translates into a product that can compete with an established platform — one that already has regulatory approval and a user base — is an open question. Meta has not commented on what the app will offer that Kalshi doesn’t already provide.
