Meta reportedly developing prediction market app similar to Polymarket, Kalshi

Meta CEO Mark Zuckerberg has ordered the development of a prediction market app similar to Polymarket and Kalshi, The New York Times (NYT) reported. According to the report, the app is being developed under the name 'Arena' and will operate separately from Facebook, Instagram, and WhatsApp. The app is expected to initially use a game point system instead of real-money betting. However, Meta has reportedly not ruled out the possibility of introducing real-money betting in the future. The NYT noted that Meta's move into prediction markets is part of Zuckerberg's new service strategy to respond to changes in online user behavior.