Meta Platforms has begun testing a prediction market application called Takes with its employees, entering a fast-growing sector dominated by Kalshi and Polymarket while notably avoiding the real-money contracts at the center of escalating U.S. gambling litigation.
According to a November 13 report by The Wall Street Journal, the app allows employees to predict event outcomes using virtual points called "Cred", short for credibility. Correct predictions increase an employee's Cred balance, while incorrect picks reduce it. Unlike conventional prediction market platforms such as Kalshi and Polymarket, Takes does not currently involve financial wagers or monetary payouts.
The employee trial follows a project initiated earlier this year under the internal name Arena. Meta Chief Executive Mark Zuckerberg reportedly directed a team to develop the standalone application in June. The company has not announced a public release date or confirmed whether real-money trading will eventually be introduced.
Meta's decision to use virtual points allows it to test user engagement around event predictions without immediately adopting the trading and settlement infrastructure required for real-money event contracts. The distinction is commercially important: Kalshi and Polymarket operate markets where participants can take financial positions on outcomes ranging from elections and economic indicators to sporting events. Takes instead concentrates on the participation mechanism — users make predictions, accumulate points, and compete over their accuracy.
Employee testing has reportedly included questions about corporate leadership and television competitions, indicating Meta is experimenting with a format extending beyond financial and political events. Meta has not disclosed how Takes would generate revenue, whether it would integrate with Facebook or Instagram, or whether it would operate exclusively as a standalone application.
The regulatory environment is intensifying. On November 12, Louisiana filed an enforcement action against operators including Kalshi, Polymarket, Robinhood, Coinbase, and Gemini, arguing that certain event contracts constitute gambling products subject to state licensing requirements. A Louisiana state court issued a temporary restraining order restricting unlicensed event-contract activity. The following day, the Commodity Futures Trading Commission announced a lawsuit against Arkansas, challenging the state's enforcement efforts targeting Kalshi. The CFTC argues that federally registered exchanges offering event contracts under the Commodity Exchange Act fall within its exclusive jurisdiction. CFTC Chairman Michael Selig reinforced the federal position at the Cantor Convergence conference, criticizing criminal enforcement threats against prediction market executives and advocating judicial resolution of the jurisdictional dispute.
According to an S&P Global Market Intelligence Kagan survey cited by Reuters, more than 60% of prediction market users are younger than 35, making the category relevant to Meta's efforts to retain younger audiences. Earlier FinanceFeeds coverage found that Kalshi accounted for approximately $9.6 billion of the $10 billion in reported non-sports trading volume during the week ending September 13, according to Artemis data. Meta possesses an established consumer distribution network through Facebook, Instagram, and its other applications, though there is no confirmation that Takes will be integrated into those platforms.
Meta's current points-only approach avoids direct exposure to the same cash-wagering model that is facing legal challenges, although the legal assessment could change if the product eventually introduces financial stakes or redeemable rewards. Introducing real-money contracts would require a substantially different operating model, potentially involving regulated exchange infrastructure, customer verification, and transaction surveillance. For now, Meta has not committed to entering the regulated derivatives business.
