Meta may be best known for social media platforms like Facebook, Instagram, Threads and WhatsApp, but the company is reportedly exploring a very different idea for its next standalone app. According to a report by The New York Times, the Mark Zuckerberg-led company is working on a new platform that would allow users to predict real-world events, turning forecasts into a points-based competition rather than a traditional social networking experience.
The reported platform, internally known as “Arena,” is said to be in development by a small team inside the US-based tech giant. Unlike Facebook or Instagram, Arena would focus on prediction-based participation. Users could make forecasts about events ranging from politics and sports to economic developments and other real-world outcomes.
What makes Arena different from existing prediction market platforms is its reported approach. According to the report, users would earn points for making accurate predictions instead of placing bets with real money. That could make the platform feel more like a game than a financial marketplace.
Prediction markets have attracted quite massive attention in recent years. Platforms such as Polymarket and Kalshi have grown rapidly by allowing users to speculate on future events. Interest in the sector has become so strong that analysts at Bernstein reportedly estimated earlier this year that prediction markets could eventually reach $1 trillion in annual trading volume by the end of the decade.
Meta has not officially confirmed the existence of Arena, and the project is reportedly still in an experimental phase. However, the report suggests it is part of a broader effort by the Facebook maker to test new standalone products beyond its core social media business.
Arena is not the only project reportedly being explored. The report also mentions another initiative called Meta Photos, which is said to focus on generating new forms of media using artificial intelligence tools.
If Arena eventually launches, the company could have a massive advantage over many competitors. Meta stated earlier this year that around 3.56 billion people use at least one of its apps every day. For now, Arena remains a rumoured project.
