Meta is building a standalone prediction markets app, internally called Arena, designed for betting on real-world events from elections to sports.
The project is a high-priority experimental venture for CEO Mark Zuckerberg. It will initially launch with a gamified points system instead of real money, though cash betting is a future possibility.
Meta is exploring partnerships with established prediction market platforms Polymarket and Kalshi, which have seen combined trading volumes reach tens of billions of dollars.
This effort revives Meta's earlier prediction market app, Forecast, which was shut down after two years. The timing is strategic, as prediction markets have become a mainstream data source cited by major news outlets.
The move specifically targets Meta's 18-34 demographic, which has shifted to competitors like TikTok. Arena's social features and leaderboards are designed as a re-engagement tool for this key audience.
The points-based launch also serves a regulatory purpose. It allows Meta to develop and test the app while negotiating legal pathways for eventual real-money integration.