{"id":74658,"date":"2026-11-13T16:08:16","date_gmt":"2026-11-13T20:08:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-tests-prediction-app-as-political-and-economic-transitions-shake-washington\/74658\/"},"modified":"2026-11-13T16:08:16","modified_gmt":"2026-11-13T20:08:16","slug":"meta-tests-prediction-app-as-political-and-economic-transitions-shake-washington","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-tests-prediction-app-as-political-and-economic-transitions-shake-washington\/74658\/","title":{"rendered":"Meta Tests Prediction App as Political and Economic Transitions Shake Washington"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>)<\/strong> is internally testing a new prediction-market app called <strong>&quot;Takes,&quot;<\/strong> allowing employees to wager on event outcomes using a virtual currency known as <strong>&quot;cred.&quot;<\/strong><\/li>\n<li><strong>National Economic Council Director Kevin Hassett<\/strong> is reportedly set to depart the White House in the coming weeks following the <strong>2026 midterm elections<\/strong>, though the administration has officially denied the move.<\/li>\n<li><strong>Senator Elissa Slotkin (D-MI)<\/strong> and <strong>Senator Bernie Sanders (I-VT)<\/strong> have publicly withheld support for <strong>Chuck Schumer (D-NY)<\/strong> as Senate Majority Leader, signaling a leadership challenge as Democrats prepare to take the majority in January.<\/li>\n<li><strong>Explosion sounds<\/strong> were reported near the Iranian port city of <strong>Jask<\/strong> on Friday; however, local authorities and state media confirmed <strong>no missile strikes or impacts<\/strong> occurred in the region.<\/li>\n<\/ul>\n<h2>Meta Explores Prediction Markets with &quot;Takes&quot;<\/h2>\n<p>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>) has begun &quot;dogfooding&quot; a new forecasting application titled <strong>Takes<\/strong>, according to reports from <em>The Wall Street Journal<\/em>. The app allows employees to bet on various outcomes\u2014ranging from corporate leadership changes to pop culture events\u2014using a non-monetary point system called <strong>&quot;cred.&quot;<\/strong> This move signals Meta&#39;s interest in the rising popularity of prediction platforms like <strong>Polymarket<\/strong> and <strong>Kalshi<\/strong>, which have seen record engagement during the recent election cycle.<\/p>\n<p>The project, previously known internally as <strong>Arena<\/strong>, reportedly utilizes Meta&#39;s <strong>Llama AI<\/strong> models to generate questions and personalized recommendations for users. While the current version uses virtual stakes to avoid the regulatory hurdles associated with real-money gambling, the initiative is viewed as a strategic play to capture the attention of <strong>Gen Z and Millennial users<\/strong>. Meta has not yet confirmed a timeline for a public release on iOS or Android.<\/p>\n<h2>White House Economic Leadership in Flux<\/h2>\n<p>The White House is facing a potential shake-up in its economic team as reports surface that <strong>National Economic Council (NEC) Director Kevin Hassett<\/strong> plans to step down. According to <em>Semafor<\/em>, Hassett has been inquiring about private-sector roles since before the <strong>November 3 midterm elections<\/strong>, which saw Democrats retake control of both chambers of Congress. Despite these reports, White House officials have issued a formal denial, maintaining that Hassett remains a &quot;key member&quot; of the administration&#39;s policy team.<\/p>\n<p>If Hassett departs, <strong>Treasury Secretary Scott Bessent<\/strong> is reportedly being considered to potentially lead both the Treasury and the NEC. This transition comes at a critical time for the administration, which is navigating the economic fallout of the ongoing <strong>conflict with Iran<\/strong> and a recent wave of high-profile departures, including former Chief of Staff <strong>Susie Wiles<\/strong>.<\/p>\n<h2>Democratic Leadership Challenge Intensifies<\/h2>\n<p>In the wake of a &quot;blue wave&quot; in the 2026 midterms, <strong>Senator Chuck Schumer (D-NY)<\/strong> is facing an unexpected internal rebellion. <strong>Senator Elissa Slotkin (D-MI)<\/strong> and <strong>Senator Bernie Sanders (I-VT)<\/strong> have both stated they will not support Schumer for Majority Leader without a &quot;concrete governing plan&quot; that addresses the needs of everyday Americans. Slotkin emphasized that there should be &quot;no coronation&quot; and has not ruled out a leadership bid herself, while <strong>Senator Chris Van Hollen (D-MD)<\/strong> has officially announced his candidacy to challenge Schumer.<\/p>\n<h2>Regional Tensions Persist Near Strait of Hormuz<\/h2>\n<p>Iranian state media, <strong>IRNA<\/strong>, reported sounds of explosions near the strategic port of <strong>Jask<\/strong> on Friday, sparking brief concerns of a new escalation in the <strong>U.S.-Iran conflict<\/strong>. However, the <strong>Hormozgan Governor\u2019s Office<\/strong> clarified that no impacts or strikes were recorded, suggesting the sounds may have been related to routine military activities or responses to non-compliant vessels in the <strong>Strait of Hormuz<\/strong>. The area remains a high-stakes flashpoint for global oil markets, as the U.S. continues to maintain a naval blockade on several Iranian ports.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Meta Platforms (META) is internally testing a new prediction-market app called &quot;Takes,&quot; allowing employees to wager on event 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