Meta Building Prediction Market App That Wouldn’t Wager Money

Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg has directed a small team to create a prediction market application similar to Kalshi Inc. and Polymarket, but with lower stakes as users won’t likely wager real money.

The standalone product, which is still in development and known internally as Arena, would complement Meta’s other social media offerings by giving people a place to interact around live events like sports games or politics, according to a person familiar with the matter, who asked not to be identified as the details aren’t public. The New York Times first reported on the internal effort. ...