Mark Zuckerberg has approved development of a standalone Meta smartphone app for prediction betting, according to a New York Times report cited in the Hebrew article. The project, code-named Arena inside Meta, is described by company sources as “experimental but a top priority.”
For now, the app would not use real money. Users would earn points for correct predictions on different topics, but the sources said money could be added later. The app is expected to remain separate from Meta’s other services, although Facebook, Instagram and other Meta products may eventually direct users to it.
The report comes as prediction markets have grown sharply over the past year, alongside major profits and heavy controversy. By April, trading volume on platforms such as Polymarket and Kalshi had reached tens of billions of dollars. Other companies have also moved into the space, including X, which partnered with Polymarket last summer.
At the same time, legal scrutiny has intensified. The article cites a case against a former senior special forces officer accused of using inside information to profit from a market tied to an operation to capture Venezuelan President Nicolas Maduro. George Santos is also under investigation over alleged Kalshi trades, and in Israel investigations have opened into reservists who reportedly bet on the strike in Iran. Polymarket and Kalshi are also working on systems meant to require bettors to disclose their jobs to prevent fraud, and the article says Meta would likely need to address the same issue if it launches a betting platform.
