Mark Zuckerberg has directed Meta to develop a prediction markets app, otherwise known as betting apps, that could compete with established platforms such as Polymarket and Kalshi.
Unlike Polymarket and Kalshi, the current version is expected to use a video game-style points system instead of real money. Meta has not ruled out allowing real-money transactions at a later stage.
The experimental app is known internally as Arena and is reportedly a top priority for Zuckerberg and the company. However, it remains under development, and Meta may never release it publicly.
Arena is expected to launch as a standalone app rather than as a feature inside Facebook or Instagram.
However, Meta reportedly plans to use its existing platforms to direct users to the new service, giving Arena access to the company’s large social media audience.
The app would allow users to make predictions about future events.
Arena would enter a market already led by Polymarket and Kalshi, both of which have operated for more than five years.
The two platforms allow users to trade contracts linked to the outcomes of events, including politics, sports, weather, and other developments.
Meta would therefore need to catch up with companies that already have established platforms and user bases.
Meta previously tested a prediction app called Forecast. The company launched Forecast in 2020, allowing users to make predictions about world events through a points-based system rather than real money.
Meta closed the app in 2022 after it failed to gain wider adoption.
Meta has a history of developing versions of formats that first became popular on rival platforms.
Instagram Stories followed Snapchat Stories, while Facebook and Instagram Reels arrived after the rise of TikTok. Meta also introduced Facebook Dating after dating apps such as Tinder, while Threads entered the market long after Twitter.
Arena could follow a similar approach, but the project remains experimental. Meta has not announced a launch date or confirmed that the app will move beyond internal development.
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