Multimodal Language Language Models (MLLMs) demonstrate the emerging abilities of "world models"---interpreting and reasoning about complex real-world dynamics. To assess these abilities, we posit videos are the ideal medium, as they encapsulate rich representations of real-world dynamics and causalities. To this end, we introduce MMWorld, a new benchmark for multi-discipline, multi-faceted multimodal video understanding. MMWorld distinguishes itself from previous video understanding benchmarks with two unique advantages: (1) multi-discipline, covering various disciplines that often require domain expertise for comprehensive understanding; (2) multi-faceted reasoning, including explanation, counterfactual thinking, future prediction, etc. MMWorld consists of a human-annotated dataset to evaluate MLLMs with questions about the whole videos and a synthetic dataset to analyze MLLMs within a single modality of perception. Together, MMWorld encompasses 1,910 videos across seven broad disciplines and 69 subdisciplines, complete with 6,627 question-answer pairs and associated captions. The evaluation includes 4 proprietary and 11 open-source MLLMs, which struggle on MMWorld (e.g., GPT-4o performs the best with only 62.5% accuracy), showing large room for improvement. Further ablation studies reveal other interesting findings such as models' different skill sets from humans. We hope MMWorld can serve as an essential step towards world model evaluation in videos.