Meta developing prediction market app called Arena, sources say
8 reported
Meta CEO Mark Zuckerberg has given the go-ahead to develop a prediction market smartphone app internally called “Arena,” according to a New York Times report cited by TechCrunch. The app would be independent of Meta’s other social media offerings, though sources told the paper those social sites could direct users to the app. The current concept for Arena is described as “experimental but a top priority” and would not involve money, instead functioning as a video game where users earn points for correct predictions, with the possibility of adding money later. Prediction markets have seen tens of billions of dollars in trading volume on platforms like Polymarket and Kalshi as of April, and other social media sites such as X have partnered with Polymarket. Legal cases and state lawsuits over alleged gambling law violations have also increased, with the current administration suing states that have sued prediction markets.
What’s reported
Mark Zuckerberg wants Meta to launch its own prediction market app called “Arena.”
The app would be independent of Meta’s other social media offerings but could be promoted through them.
Arena is described as “experimental but a top priority” and would initially not involve money, using points instead.
Trading volume on platforms like Polymarket and Kalshi reached tens of billions of dollars as of April.
X forged a partnership with Polymarket last summer.
A former high-ranking special forces soldier was accused of using insider knowledge to profit from a prediction market trade.
George Santos is under investigation over alleged Kalshi trades.
States have sued prediction markets over alleged gambling law violations, and the current administration has sued those states.
Key figures
Mark Zuckerberg, Meta CEO
George Santos, under investigation
A former high-ranking special forces soldier (not named in article)
Sources: TechCrunch
