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Market Chatter: Meta Developing Prediction Markets App 'Arena'

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Meta Platforms (META) CEO Mark Zuckerberg has directed a small team to develop a standalone prediction markets app called "Arena," the New York Times reported on Tuesday, citing people familiar with the matter.

The app would allow users to predict outcomes on events using a points based system, though the firm had not ruled out the eventual use of real money betting, the report said.

Meta did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $565.15, Change: $+1.30, Percent Change: +0.23%

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