Meta is building a prediction market app, but it will launch without real-money bets

Meta develops moneyless prediction market app Arena to challenge Kalshi and Polymarket

Meta's June 23 Arena app brings prediction markets to 3.5B+ users with points-only betting, bypassing regulation that constrains competitors Polymarket and Kalshi. Signals that prediction-market consolidation favors consumer-scale platform distribution over blockchain purity—structural headwind for crypto-native trading venues.