Meta Platforms Inc., the parent company of Facebook, is developing a new mobile application called 'Arena' that functions as a prediction market platform, according to a report by The New York Times on June 23, 2026, citing people familiar with the matter.
The app would allow users to make forecasts and place bets on the outcomes of various events, including elections, sports, and entertainment. This move comes as the prediction market sector experiences significant growth, with platforms like Polymarket gaining popularity.
Meta's entry into this space follows a broader trend of tech companies exploring prediction markets. The company has not officially confirmed the project, and details on a launch date remain unclear.
The development of Arena underscores Meta's continued expansion into new product categories beyond social media, despite regulatory scrutiny and past controversies over data privacy.
