Mark Zuckerberg directed Meta to create a prediction markets app

Factual coreconfirmed by several independent voices

• Meta is building a prediction markets app.

  reliability moderate3/6 sources

• But as Facebook and Instagram increasingly serve video-focused content, Meta executives believe there are fewer areas inside the apps to test new product ideas, the people said.

  reliability moderate2/4 sources

• Arena is one of several new apps Meta is testing, according to the Times.

  reliability high4/8 sources

• Mark Zuckerberg directed Meta to create a prediction markets app.

  reliability moderate2/5 sources

• Others include one called Meta Photos, another stand-alone app that would create new types of media using artificial intelligence, the employees said.

  reliability moderate2/3 sources

• Prediction markets have also faced integrity problems.

  reliability moderate2/2 sources

• Meta previously launched a similar product called Forecast in 2020, which encouraged users to make predictions about current events and emerging trends during the early stages of the Covid-19 pandemic.

  reliability moderate2/2 sources

• The effort comes as prediction markets have gained unprecedented popularity following Polymarket’s breakout success during the 2024 US presidential election, when traders came to the crypto-based platform to place bets on electoral outcomes, driving billions of dollars in trading volume and elevating prediction markets into the mainstream political conversation.

  reliability moderate2/2 sources

Reported detailssecondary facts, each attributed to its source

• A new app could compete with Polymarket and Kalshi.

  according to TechCrunch +2

• Arena would initially use a video-game-style points system rather than letting users wager real money, according to the report.

  according to TechCrunch +1

• The CFTC proposed new rules on June 10 that would ban contracts tied to war, assassinations, and terrorism while potentially legalizing wagers on sporting events.

  according to The Next Web

• Related: Republican lawmaker proposes prediction markets insider trading ban, not including White House officials Meta reportedly planned to cut 10% of its staff in April amid the company pivoting to artificial intelligence, a move expected to affect about 8,000 people.

  according to Cointelegraph

• Combined monthly trading volume across both platforms quadrupled from under $5 billion to $24 billion between September 2025 and April 2026, according to Pew Research, but even that surge is small relative to Meta’s user base.

  according to The Next Web

• Some of lawmakers’ concerns stemmed from a soldier allegedly making more than $400,000 on a Polymarket event contract related to the capture of Venezuela President Nicolás Maduro, removed by US forces in January to face a criminal trial in New York City.

  according to Cointelegraph

• In some ways, the product would be an extension of Meta's scuttled stablecoin project, Libra, when the company was hoping to enter the lucrative payments wallet market, however that venture proved unsuccessful and Zuckerberg pulled the plug in 2022 .

  according to ZeroHedge

• Unlike traditional platforms such as Polymarket or Kalshi, Arena is expected to use a video game-like points system rather than cash, though Meta has not ruled out eventually allowing real-money betting.

  according to CoinDesk

• As CoinDesk notes , Meta’s renewed interest in the sector is hardly surprising given the broader industry trend in the same direction.

  according to ZeroHedge

• The project marks a revival of Meta’s earlier Forecast initiative and comes amid surging interest in prediction markets and growing regulatory scrutiny over whether such event contracts amount to gambling or are legitimate financial instruments.

  according to CoinDesk

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Framing by sidesame fact, different words — loaded terms highlighted

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Blind spotwhat one side keeps silent

• Meta previously launched a similar product called Forecast in 2020, which encouraged users to make predictions about current events and…

  omitted byLeft sideRight sidePublic / Agenciescovered byCenterRight side

• Meta shuttered the app in 2022.

  omitted byLeft sideRight sidePublic / Agenciescovered byCenterRight side

• The effort comes as prediction markets have gained unprecedented popularity following Polymarket’s breakout success during the 2024 US…

  omitted byLeft sideRight sidePublic / Agenciescovered byCenterRight side

• In the United States, the Commodity Futures Trading Commission has repeatedly grappled with whether certain event contracts serve a…

  omitted byLeft sideRight sidePublic / Agenciescovered byCenterRight side

• Crypto-native companies such as Coinbase and Kraken have explored opportunities in the space, while retail brokerage Robinhood has…

  omitted byLeft sideRight sidePublic / Agenciescovered byCenterRight side

Sources12 sources cross-checked

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