Mike Isaac on Zuckerberg vs Kalshi

    by Tim Official: Mark Zuckerberg

    Mark Zuckerberg is essentially bankrupting a $22 billion startup simply because they wouldn't sell to him. The company in question is Kalshi, which operates the largest prediction market in the United States, where users wager real money on real-world outcomes. Last year, prediction markets saw $28 billion in monthly volume.

    Transcript (en)

    It's actually been pretty controversial inside since we published yesterday. A number of employees have reached out and are talking internally about how they think this is potentially a bad thing or dangerous thing for Meta. But it would function essentially like a lot, like you said, like Polymarket and Calci. You can sort of focus on the way to describe it as sporting events, real life outcomes, just sort of anything and everything in the world you can bet on. The key distinction is that it's not a real money app. So you'd be using like in app points, you know, to sort of wager. And like, this is very intentional because with real money comes real regulation, at least, or the potential for regulation.