Meta's Latest Gamble? Mark Zuckerberg Eyes Prediction Market Race With New App

Published 24 June 2026 · india

Meta's Latest Gamble? Mark Zuckerberg Eyes Prediction Market Race With New App Published By, Last Updated: June 24, 2026, 16:44 IST Meta CEO Mark Zuckerberg

Meta's Latest Gamble? Mark Zuckerberg Eyes Prediction Market Race With New App Published By, Last Updated: June 24, 2026, 16:44 IST Meta CEO Mark Zuckerberg is developing a Polymarket-like prediction app using game points instead of money, but may allow real-money betting in the future. The project is being developed internally under the name "Arena" and is expected to operate as a standalone app. (AFP file photo) Meta CEO Mark Zuckerberg has reportedly tasked a small team with developing a new prediction markets app, as the social media giant looks to tap into growing interest in event-based forecasting platforms. According to a report by The New York Times, the project is being developed internally under the name “Arena" and is expected to operate as a standalone app.

Unlike rivals such as Polymarket and Kalshi, Arena is likely to use a points-based system similar to video games rather than allowing users to wager real money. However, the report said Meta has not completely ruled out introducing real-money betting in the future. The company has not commented on the development. Prediction markets gained widespread attention during the 2024 US presidential election and have since expanded into a fast-growing sector covering everything from politics and economic policy to major sporting events. Several financial platforms, including Robinhood and Interactive Brokers, now offer event-based contracts to users. Meta aims to grow the app by leveraging its large social networking audiences and directing them toward using it, according to the report.

In April, the company reported 3.56 billion daily active people, a metric it uses to track unique users who open any one of its apps in a day. Prediction markets could balloon to $1 trillion in annual trading volumes by decade-end, Bernstein said in April. But they have also drawn increasing scrutiny as well-timed trades ahead of US President Donald Trump’s major policy surprises have potentially led to millions of dollars in profits for unknown traders. (With inputs from Reuters) News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit About the Author News Desk The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad.

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