Meta is testing Takes, a prediction app where employees bet 'cred' instead of cash
SummaryMeta employees have started testing an internal prediction-market app called Takes. Wagers are made in points called cred, short for credibility, not real money, the Wall Street Journal reported.
· MODEL Editors · 1 min read
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What happened. Meta employees have begun testing a prediction-market app called Takes, the Wall Street Journal reported on Friday, Nov. 13, citing people familiar with the matter (Reuters (opens in a new tab)).
How it works. Employees wager on the outcome of questions or events using "cred," short for credibility, instead of real money. Correct calls earn cred and wrong ones lose it (The Fly (opens in a new tab)). One question reportedly asked whether Tim Cook will become Nvidia's next chief executive (Investing.com (opens in a new tab)).
Where it came from. Investing.com, citing the Journal, says the project was previously known internally as Arena, after Mark Zuckerberg asked for a prediction-market product.
Why now. Prediction markets such as Kalshi and Polymarket are drawing younger users. Just over 60% of their users are under 35, according to an S&P Global Market Intelligence Kagan survey cited by Reuters. Both companies face legal challenges from US states over whether their platforms count as illegal gambling.
What's not known. Takes is not available to the public, and it is unclear when, or if, it will be released. Meta did not immediately respond to Reuters' request for comment.
The MODEL take. Every other prediction market asks you to put money on the line. Meta's asks you to put your reputation with your coworkers on the line, which is what most meetings already do.
Not tested by MODEL. Not sponsored. Not investment advice.
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Sources
- Meta employees test prediction-market app, WSJ reports
Reuters via Investing.com
- Meta tests prediction-market app for employees, WSJ reports
Investing.com
- Meta tests new prediction-market app with employees, WSJ reports
The Fly via TipRanks
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