Meta is building a prediction market app called Arena, led by CEO Mark Zuckerberg and separate from Facebook and Instagram. Currently in internal testing, it uses a points-based system rather than real money, though real-money betting may be introduced later. Meta is also testing an AI-powered media app called Meta Photos.
According to Odaily Planet Daily citing The New York Times, Meta CEO Mark Zuckerberg recently assigned a team to develop a smartphone application named Arena. The app is independent of Facebook and Instagram and aims to compete with major prediction market platforms such as Polymarket and Kalshi. Arena is currently in internal development and is experimental in nature. Users will not place bets with real money; instead, the app relies on a points system similar to video games. However, the report notes that the possibility of eventually using real currency for betting has not been ruled out.
Separately, Meta is also testing another standalone app called Meta Photos, which will leverage AI technology to create new forms of media. Meta has declined to comment on these reports.
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