Bobby Allen

Meta is developing an app where people can guess the outcome of things like elections or the color of the president's tie on a given day.

Internal Meta documents reviewed by NPR show the company has codenamed the project Arena.

It's also being called Antwerp.

One major difference from leading prediction market apps, though, is that Meta's app will only let users wager play money, digital points on whether something will happen or not.

Kalshi and Polymarket have faced dozens of lawsuits over unregulated gambling, and whether these apps represent a distinct kind of activity.

Meta is the biggest tech company yet to jump into prediction market mania.

Billions of dollars are traded every week on the apps, even as the industry remains in legal limbo.

Bobby Allen, NPR News.

Cauchy says putting money down on a company's performance or national security matters like the war in Iran will now mean revealing where you work.

Prediction market apps like Cauchy and Polymarket have soared in President Trump's second term thanks to lax regulations allowing virtually anyone to bet on anything from the color of President Trump's tie to who will be eliminated on the next season of Love Island.

But there's growing research that some of the billions of dollars traded every week on the apps is done so using insider intel.

Kaushik's new employer disclosure requirements come as lawmakers and regulators in Washington weigh new rules for the industry.

But critics of the administration say since the president's son, Donald Trump Jr., is an advisor to both companies, the new rules are not expected to be too stringent.

Bobby Allen, NPR News.

Cauchy says putting money down on a company's performance or national security matters like the war in Iran will now mean revealing where you work.

Prediction market apps like Cauchy and Polymarket have soared in President Trump's second term thanks to lax regulations allowing virtually anyone to bet on anything, from the color of President Trump's tie to who will be eliminated on the next season of Love Island.

But there's growing research that some of the billions of dollars traded every week on the apps is done so using insider intel.

Cauchy's new employer disclosure requirements come as lawmakers and regulators in Washington weigh new rules for the industry.

But critics of the administration say since the president's son, Donald Trump Jr., is an advisor to both companies, the new rules are not expected to be too stringent.

Bobby Allen, NPR News.