Meta Chief Executive Mark Zuckerberg has directed a team to develop an experimental prediction markets smartphone app internally called “Arena,” according to a report by The New York Times on June 23. The independent app would allow users to bet on the outcomes of various events, initially utilizing a points-based system rather than real money.
Details of the Project
According to employees familiar with the matter, Arena will operate separately from Meta’s existing core platforms, which include Facebook, Instagram, WhatsApp, and Messenger. Meta intends to scale the application by leveraging its existing social networking audiences and directing them toward the new service. Meta declined to comment on the development, and insiders cautioned that the app remains in development and may not be released.
The project is part of a broader effort within the company to establish standalone applications based on emerging online behaviors. Meta is also reportedly testing an independent application called Meta Photos, which would use artificial intelligence to create new media formats.
Market Context and Past Initiatives
The development comes amid volume growth in the prediction market sector, which is currently led by platforms such as Polymarket and Kalshi. The two platforms generated a combined $50 billion in online trades in 2025, with total volume surpassing $130 billion so far in 2026.
Other traditional and digital asset firms have also entered the sector. Cryptocurrency exchange Gemini, traditional gambling firms FanDuel and DraftKings, and Trump Media & Technology Group have all launched or announced prediction market products.
This project is not Meta’s first attempt at entering the prediction market space. The company launched a crowdsourced prediction app called Forecast in 2020, which used a points system to predict global events during the Covid-19 pandemic, before shutting it down in 2022.
Regulatory and Political Scrutiny
The expansion of the prediction market sector has attracted increased regulatory attention from U.S. authorities, including the Commodity Futures Trading Commission (CFTC). Federal prosecutors in New York recently filed insider trading charges against an individual accused of using confidential information to place bets on Polymarket regarding military operations.
The development comes as Meta expands digital asset options across its existing platforms. The company recently rolled out a program allowing eligible Facebook creators in select regions, including the Philippines, to receive platform earnings in USD Coin (USDC) over the Solana and Polygon networks.
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