Meta developing standalone prediction market app 'Arena' to compete with Kalshi and Polymarket
By
Bobby Allyn
Summary
Meta is developing a standalone prediction market app called "Arena" where users can wager on real-world event outcomes using play money. CEO Mark Zuckerberg has directed a team to build the app, positioning Meta to compete with platforms like Kalshi and Polymarket in a sector projected to potentially become a $1 trillion industry. The app will operate separately from Facebook and Instagram.
Source
bskyMeta developing standalone prediction market app 'Arena' to compete with Kalshi and Polymarketnpr.orgKey quotes
· 3 pulledMeta is planning to launch its own prediction market app to compete with companies like Kalshi and Polymarket in a booming sector that some analysts project could become a $1 trillion industry in the coming years.
Meta CEO Mark Zuckerberg has instructed a team to start building a standalone app called Arena where people can guess the outcome of real-world events, according to two employees who were not authorized to speak publicly about the project.
The company is building an app separate from Facebook and Instagram where people can wager on the outcome of real-world events, using 'play money.'
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