Meta is developing a prediction market app called ‘Arena’ as sector booms: NYT
The app would let users forecast future events using a points-based system rather than cash wagers, the report said, citing people familiar with the matter.
Make preferred on
Share this article
Summary
- Meta is developing an experimental prediction market-style app called Arena that would let users forecast outcomes in politics, sports, entertainment and world affairs.
- Unlike traditional platforms such as Polymarket or Kalshi, Arena is expected to use a video game-like points system rather than cash, though Meta has not ruled out eventually allowing real-money betting.
- The project marks a revival of Meta’s earlier Forecast initiative and comes amid surging interest in prediction markets and growing regulatory scrutiny over whether such event contracts amount to gambling or are legitimate financial instruments.
