Mark Zuckerberg has reportedly directed Meta’s staff to develop a prediction market app that lets users wager with points instead of actual money.
The app, called “Arena,” would run independently from Meta’s other platforms like Facebook and Instagram. The New York Times first reported the news, citing two employees familiar with the project. Insiders say it’s experimental but considered a top priority internally.
If launched, Arena could challenge existing prediction market platforms like Kalshi and Polymarket. Meta reported 3.56 billion daily active users across its apps as of March 2026, giving it a massive potential user base.
This isn’t Meta’s first foray into financial products with crypto implications. The company planned the Libra stablecoin in 2019, later rebranded to Diem, before dropping the project in 2022. In April 2026, Meta rolled out USDC payouts for select Facebook creators in Colombia and the Philippines, raising concerns among some US lawmakers.
The news comes amid broader regulatory scrutiny of prediction markets in the US. The CFTC is engaged in legal battles with several state authorities over jurisdiction. Meanwhile, lawmakers are considering legislation to address insider trading concerns, reportedly prompted by a soldier who made over $400,000 on a Polymarket contract related to the capture of Venezuelan President Nicolás Maduro.
Meta reportedly planned to cut 10% of its staff in April as the company pivoted toward AI development, a move expected to affect roughly 8,000 employees.
