Meta Held Talks to Buy Kalshi but Chose to Build Arena Prediction App Instead

Meta previously held talks about acquiring prediction-market company Kalshi but ultimately decided to develop its own prediction-market app called Arena, which uses virtual currency rather than real-money wagers, according to 36Kr. The report said Meta CEO Mark Zuckerberg met Kalshi CEO Tarek Mansour last year when Kalshi’s popularity was surging to discuss a potential acquisition, but the talks did not progress. Accounts differ on why negotiations broke down, with one version saying Mansour was unwilling to sell and another saying Meta viewed Kalshi’s legal and ethical issues as too complex.