Meta is developing new app and it is completely different from Facebook and Instagram
Follow UsMeta is reportedly developing a new app called Arena.
The app may let users predict events and earn points for correct answers.
Arena could help Meta expand beyond its current social media apps.
Meta is reportedly building a new standalone app where users could predict real-world events. According to the current report, Mark Zuckerberg has put a small team in charge of developing this project. It also indicated that the project is internally known as Arena. The app is expected to function similarly to prediction market platforms such as Polymarket and Kalshi. However, unlike the popular prediction market platforms that involve financial stakes, the proposed app is expected to rely on a points-based system similar to a game. Despite being in the testing phase at the moment, it is quite clear that Meta has plans of expanding its digital offerings, going beyond its social media platforms.
SurveyAccording to an article in The New York Times, Meta is building a new internal platform named ‘Arena’. The app is expected to be different from Meta’s existing services like Facebook, Instagram, WhatsApp, and Messenger. It is designed around prediction-based activity, where users earn points for making correct predictions instead of using or betting real money.
Meta has not yet publicly confirmed anything related to the upcoming project. Moreover, there has been a growing interest in prediction markets over the past few years. Such platforms provide users an opportunity to make forecasts regarding possible outcomes of various events such as elections, the economy, or sports and keep the users engaged for some time. Interest in the sector has grown rapidly, with several financial trading platforms introducing event-based contracts.
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Meta’s reported move comes at a time when prediction markets are attracting both investor interest and regulatory attention. Analysts at Bernstein said in April that the sector could reach $1 trillion in annual trading volume by the end of the decade. At the same time, questions have emerged about unusual trading activity linked to major political and economic developments in the United States.
The report also said Arena is only one of several experimental products being tested by Meta. Another standalone project, called Meta Photos, is reportedly focused on creating new forms of media through artificial intelligence tools.
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If launched, then Arena could benefit from Meta’s vast user base, as the company recently stated in April that about 3.56 billion people use at least one of its apps every day. Experts believe that. By directing some of those users toward new standalone services, Meta could quickly build audiences for emerging products while testing fresh ideas beyond social networking.
