Earlier this month, Meta Platforms (META) announced several ways to monetize its AI capex, including a new smart glass starting at $299. Reports suggest that it plans to release a prediction market app, which would be powered by what else but artificial intelligence (AI). On paper, the move appears to be a good one. Prediction markets are growing fast, and so is AI adoption. Moreover, tech companies, Meta included, have been looking at ways to monetize, or should we say justify, their AI capex at a time when markets are getting restless with the ever-rising budgets. I would argue that Meta has finally shown some sense of urgency amid an underperforming stock. Let's see what these measures could mean for Meta.
Talking of prediction markets, currently, the legal and regulatory landscape is complicated. While the Commodity Futures Trading Commission (CFTC) has been ***** erting its authority to regulate these platforms, states argue that regulating prediction markets is within their ambit. We are now in a situation where practically everyone is suing everyone else. So, several states have sued Kalshi and Polymarket, leading to counter lawsuits from these platforms. The CFTC has also gotten into the lawsuit game and has sued states that have acted against prediction markets.
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