Prediction markets surged in popularity during the 2024 U.S. presidential election and have evolved into an asset class that lets investors wager on a variety of events Published - June 24, 2026 10:28 am IST Reuters
Alex Pereira, right, greets Meta CEO Mark Zuckerberg after his interim heavyweight title bout loss to Ciryl Gane at UFC Freedom 250
| Photo Credit: AP
Meta CEO Mark Zuckerberg recently dispatched a small team at his company to create a smartphone app similar to Polymarket and Kalshi, the New York Times reported on Tuesday, citing two employees with knowledge of the matter.The company did not immediately respond to a Reuters request for comment. Reuters could not independently verify the report.
Prediction markets Kalshi and Polymarket hit with backlash over Iran strike-related betsThe app will probably rely on a video game-like points system instead of users wagering money, though the company has not ruled out betting real money eventually, according to the report.Prediction markets surged in popularity during the 2024 U.S. presidential election and have evolved into an asset class that lets investors wager on a variety of events, from monetary policy to sports tournaments. Trading platforms such as Robinhood and Interactive Brokers have rolled out event contracts.The Times report said the app is internally referred to as “Arena” by Meta; it would function independently from its social networking apps such as Facebook, Instagram, WhatsApp and Messenger. Published - June 24, 2026 10:28 am ISTRelated storiesU.S. charges Google engineer with insider trading on PolymarketSpain blocks prediction markets Polymarket, Kalshi over lack of gambling licencesPolymarket turns to Palantir for sports betting integrityKalshi prediction market sued over ouster of Iran leader bet
