We show that the multiscale entanglement renormalization ansatz (MERA) can be reformulated in terms of a causality constraint on discrete quantum dynamics. This causal structure is that of de Sitter space with a flat space-like boundary, where the volume of a spacetime region corresponds to the number of variational parameters it contains. This result clarifies the nature of the ansatz, and suggests a generalization to quantum field theory. It also constitutes an independent justification of the connection between MERA and hyperbolic geometry which was proposed as a concrete implementation of the AdS-CFT correspondence.