SynopsisThe social media ​company's executives have said Arena, Meta's new prediction market app under development, will differ from Polymarket and Kalshi, which ​accept real-money wagers, because it will ⁠instead rely ‌on video-game-like "points", the report said.Meta CEO Mark Zuckerberg has urged his lieutenants to explore partnerships with the popular prediction markets Polymarket and Kalshi as his company builds a similar app, the New York Times said on Friday, citing three employees with knowledge of the matter.Meta and ‌Polymarket declined ⁠to comment, ⁠while Kalshi did not respond to a request for comment when ​contacted by Reuters. Reuters could not independently verify the report.The social media ​company's executives have said Arena, Meta's new prediction market app under development, will differ from Polymarket and Kalshi, which ​accept real-money wagers, because it will ⁠instead rely ‌on video-game-like "points", the report said.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.But they have also drawn increasing scrutiny as well-timed trades ahead of U.S. President Donald Trump's major policy surprises have potentially led to millions of dollars in profits for unknown traders.Zuckerberg's target ‌demographic for Arena is 18- to 34-year-olds and Meta is aiming to reach at least 100 ​million monthly ​active "predictors" for the ⁠app, according to the report.Arena is being tested internally and may not be released, the report said, adding that Meta plans ​to eventually integrate parts of Arena into Facebook and Messenger.The Times first reported on Tuesday that Zuckerberg recently dispatched a small team at his company to create a smartphone app similar to Polymarket and Kalshi. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now