Meta develops prediction market app 'Arena' in push to rival Polymarket
The social media giant is building a points-based wagering platform to compete with established prediction markets, though real-money betting remains uncertain.
Meta is developing an internal application codenamed Arena, a prediction market platform designed to compete with established services such as Polymarket and Kalshi, according to a report by The New York Times. The project is being managed by a small, independent team and has been characterised by Meta insiders as a top priority for CEO Mark Zuckerberg.
The application is currently in an experimental phase and will initially utilise a points-based wagering system rather than real money. While the initial rollout avoids direct financial stakes, Meta has not ruled out the possibility of eventually allowing users to bet with real currency. The app will operate independently from Meta’s existing platforms, with users expected to be directed to it from other services within the company’s ecosystem.
Should the app launch publicly, it would represent another instance of Meta replicating popular features from competitors. The company previously adopted Snapchat’s Stories format and TikTok’s vertical video feed, strategies that have historically allowed it to leverage its extensive user base across Facebook and Instagram to capture market share in emerging digital trends.
The prediction market sector has faced significant scrutiny in recent years. The Wall Street Journal recently reported that Polymarket paid individuals to post fake videos of themselves placing bets, highlighting concerns about market integrity. Additionally, prediction markets have been associated with controversy, including instances where users were arrested for placing suspicious bets.
Competitors in the space have responded cautiously to the news. Kalshi spokesperson Laura Frank declined to comment on the report, while Polymarket did not immediately reply to requests for comment. Meta has not officially confirmed the details of the project, and it remains unclear whether Arena will be publicly released or remain in the experimental phase indefinitely. The final name of the application may also change before any potential launch.
