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Meta's prediction market move drops DraftKings and Futter
Meta has launched a plan to develop a prediction market platform, aiming to expand its digital services through a standalone app separate from its core social media platforms like Facebook and Instagram. The new app, internally known as "Arena," will initially use a point system similar to video games rather than real money, with the possibility of introducing cash trading in the future. This move has led to a decline in the stock prices of some companies involved in prediction markets and sports betting on the stock exchange, amid concerns over its potential impact on their core businesses.
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