Morning Minute is a daily newsletter written by Tyler Warner.
The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt
And check out our new daily news show covering all of the top stories in 5 minutes, downloadable on Apple Pod or Spotify. GM! Today’s top news: – Crypto majors flat; BTC at $62.7k – ETH Foundation to cut budget by 40%, layoff 20% of staff – BlackRock formally recommends 1-2% portfolio allocation to BTC – Hayes’ Maelstrom publishes bull case for CARDS token (CARDS +15%) – Meta to enter prediction market space with “Arena” 🎰 Meta Is Building a Prediction Market Mark Zuckerberg wants in on the hottest corner of crypto-adjacent finance.
Meta is experimenting with a prediction market platform, internally called “Arena,” according to a New York Times report. For now, the product runs on points rather than real money, which keeps it clear of the gambling and derivatives rules that govern cash-settled venues like Kalshi and Polymarket. This is not Meta’s first venture into crypto or Web3.