Meta considers eventual incorporation of real money betting, per NYT

The Meta CEO reportedly plans for the company to launch a prediction market independent of its other apps allowing users to place wagers using a points system rather than money.

The initiative follows bets on stablecoins and the metaverse.

Mark Zuckerberg has directed a small Meta team to build a standalone prediction-market app called Arena, according to the New York Times. The move puts the world's largest social network on a direct collision course with crypto-native platforms like Polymarket and Kalshi.

Meta has reportedly formed a team to develop a prediction market app called Arena, a signal of the company’s entry into a sector that has attracted growing interest from both retail users and institutional investors. According to a report from…

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Mark Zuckerberg has directed a small team at Meta to build a standalone prediction markets app internally codenamed “Arena,” the New York Times reported Tuesday, citing two employees with knowledge of the plans. Meta declined to comment on the project. But according to the Times report, the Arena application is a top internal priority for […]

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Meta is building a prediction markets app called Arena to rival Polymarket and Kalshi, likely starting with a points system rather than real-money betting.