Meta builds experimental prediction markets app called Arena

Meta is developing a standalone prediction market app internally called Arena, according to internal documents and reports beginning June 23. The app would operate independently of Facebook and Instagram and would initially use a points-based system, with potential for cash trading later. The product would leverage Meta's social media reach to compete directly with established prediction market platforms including Polymarket and Kalshi. News of the project sent shares of DraftKings and Robinhood lower. Meta has not publicly confirmed Arena or announced a launch timeline, and product details remain limited.