Meta, the social media company behind Facebook, Instagram, Messenger and WhatsApp, is building a prediction markets app and has explored collaborations with potential rivals such as Polymarket and Kalshi, The New York Times reported on June 26.
- The app, called Arena, would let users make predictions on sports, culture, entertainment, politics and finance.
- But unlike Polymarket and Kalshi, which involve real-money event contracts, Arena is currently being described internally as a points-based product, according to the report.
The Times said Meta CEO Mark Zuckerberg has made Arena a top priority and urged executives to speak with Polymarket and Kalshi, though it remains unclear what any partnership would look like.
But the project has caused internal debates at Meta
Some employees reportedly argued that putting prediction markets inside the world's largest social network could cross an ethical line and become a path toward gambling.
Some employees reportedly argued that putting prediction markets inside the world's largest social network could cross an ethical line and become a path toward gambling.
- Arena, still being tested internally, is aimed at 18- to 34-year-old users, per the report.
- Meta reportedly wants the app to reach at least 100 million monthly active "predictors," a term the company is using for people making predictions inside the product.
The product is expected to start as a standalone app, if and when released. Meta then plans to bring parts of Arena into Facebook and Messenger, including prediction bets inside group chats, Reels, Stories and the Facebook News Feed, according to the report.