Meta CEO Mark Zuckerberg exits Los Angeles Superior Court docket in Los Angeles, California, Feb. 18, 2026.
Kyle Grillot | Bloomberg | Getty Photographs
Meta Platforms CEO Mark Zuckerberg has directed employees to create a prediction markets platform, an individual acquainted with the corporate’s plans who requested to not be named confirmed to CNBC.
The New York Instances was first to report the event on Tuesday.
The individual acquainted, who was not licensed to talk on the report in regards to the firm’s plans, additionally confirmed to CNBC that the prediction markets app wouldn’t use precise cash to commerce on the platform, a distinction to different prediction markets the place merchants use money to invest on future occasions.
The Instances report mentioned Meta’s app would as a substitute depend on a video game-style factors system, however that cash could also be used on the app sooner or later.
Two staff with data of the plans informed the Instances the app — referred to internally as “Area” — can be separate from Meta’s social media platforms, Instagram and Fb. Meta would search to leverage its Fb and Instagram consumer base to direct potential merchants to the platform, the report mentioned.
The corporate declined a request to remark from CNBC.
DraftKings shares Tuesday
Sports activities betting platform DraftKings fell greater than 2% after the report was launched, reaching its low of the day. The inventory was final down 1.5%. FanDuel mother or father Flutter Leisure additionally fell almost 2% after the report, however was nonetheless optimistic on the day, up 1%.
Flutter and DraftKings have each struggled over the previous yr on worries about how prediction market platforms — which provide sports-related occasion contracts — might disrupt their sports activities playing companies.
Buying and selling platform Robinhood, which provides contracts from varied prediction market platforms, additionally declined after the Instances’ preliminary report.
