The application aims to enable users to predict future events using a points-based system instead of cash bets, according to sources cited by the report.
By Helene Braun|Edited by Cheyenne Ligon Jun 23, 2026, 5:54 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Meta is creating an experimental app named Arena that will allow users to forecast various outcomes in politics, sports, entertainment, and global events.
- In contrast to established platforms like Polymarket or Kalshi, Arena is set to employ a points system akin to video games rather than cash betting, although real-money betting has not been entirely dismissed for the future.
- This initiative revives Meta's earlier Forecast project and emerges amidst a surge in interest for prediction markets, coupled with increasing regulatory scrutiny regarding the classification of such contracts as gambling or as valid financial tools.
The parent company of Facebook, Meta (META), is reportedly working on a new application dubbed “Arena,” which resembles a prediction market platform based on information from sources cited by the New York Times.
This upcoming app will enable users to make predictions about future events across various domains, including politics, sports, entertainment, and international affairs. Unlike conventional prediction market platforms such as Polymarket or Kalshi, users will likely utilize a points system similar to video games instead of cash, according to these sources, although the company has not excluded the possibility of incorporating real-money betting in the future.
Sources indicate that this product is experimental and a significant priority for Meta.
The development arrives as prediction markets have seen a notable rise in popularity, particularly following the success of Polymarket during the 2024 U.S. presidential election, where traders flocked to the crypto-based platform to wager on electoral outcomes, generating billions in trading volume and bringing prediction markets into mainstream political discussions.
Previously, Meta launched a similar initiative called Forecast in 2020, encouraging users to predict current events and trends during the early pandemic phase. However, Meta ultimately discontinued the app in 2022.
Meta's renewed focus on this sector aligns with a wider industry trend, as almost every major trading platform has sought to introduce prediction market-style products or event contracts. Crypto-focused firms like Coinbase (COIN) and Kraken have also explored this space, while retail brokerage Robinhood (HOOD) has rolled out event-based contracts linked to political and economic predictions.
Nonetheless, the rapid expansion of these markets has drawn heightened legal and regulatory attention. Critics contend that contracts associated with elections, geopolitics, or other sensitive events may blur the lines between legitimate financial instruments and gambling activities.
Regulatory bodies have expressed concerns regarding potential market manipulation, insider trading, consumer protection, and the risk of individuals profiting from events they might influence. In the U.S., the Commodity Futures Trading Commission (CFTC) has repeatedly examined whether certain event contracts have a legitimate hedging function or if they constitute illegal gaming activities.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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