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Meta is building an experimental prediction-market-style app called Arena that would let users forecast outcomes in politics, sports, entertainment and world affairs. The project uses a points system and revives an earlier Forecast product from 2020. CoinDesk reported the details citing people familiar with the matter.
pymnts.comMeta is developing an experimental app called Arena that would allow users to forecast outcomes in politics, sports, entertainment and world affairs, CoinDesk reported, citing the New York Times and people familiar with the matter. The app is expected to rely on a video game-like points system rather than cash wagers, though the company has not ruled out adding real-money betting later.
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The project is described as both experimental and a top priority inside Meta.
Meta previously launched a similar product called Forecast in 2020 that encouraged predictions about current events and emerging trends. The company took down Forecast in 2022. Arena marks a return to the space as prediction markets have drawn billions of dollars in trading volume during the 2024 U.S.
Presidential election. Coinbase and Kraken have explored prediction-market-style products, while Robinhood has introduced event-based contracts tied to political and economic outcomes. The renewed activity has drawn regulatory scrutiny over whether such contracts constitute gambling or legitimate financial instruments.
The Commodity Futures Trading Commission has repeatedly examined whether event contracts serve a hedging purpose or amount to prohibited gaming activities.
New York PostMeta is building an experimental prediction markets app called Arena. Mark Zuckerberg directed the project, which aims to rival Polymarket and Kalshi. The app may start with a points system before considering real currency.
koreaherald.comThe South Korean memory chip maker will seek up to 45 trillion won in the largest U.S. listing by a Korean company. The offering, scheduled to begin trading July 10, follows a sharp sell-off in memory stocks after a Korean media report.
gizmodo.comMeta is developing a smartphone app that lets users earn points for making predictions on events. The project remains experimental and separate from the company's existing social platforms.