On February 18, 2026, Meta CEO Mark Zuckerberg appears in Los Angeles Superior Court in Los Angeles, California.
Kyle Grillot | Bloomberg | Getty Images
meta platform CEO Mark Zuckerberg has directed staff to create a prediction market platform, a person familiar with the company’s plans, who requested anonymity, confirmed to CNBC.
The New York Times first reported the development on Tuesday.
The acquaintance, who was not authorized to speak on the record about the company’s plans, also confirmed to CNBC that the prediction market app does not use real money to trade on the platform, in contrast to other prediction markets where traders use cash to speculate on future events.
The Times reports that Meta’s app will rely on a video game-style points system, but that money could be used in the app in the future.
Two employees with knowledge of the plans told the Times that the app, known internally as “Arena,” will be separate from Meta’s social media platforms, Instagram and Facebook. Meta is looking to leverage its user base on Facebook and Instagram to drive potential traders to its platform, the report said.
The company declined a request for comment from CNBC.
DraftKings Tuesday stock price
sports betting platform draft kings The stock fell more than 2% after the report was released, hitting its lowest point of the day. The stock price ended the day down 2%. FanDuel’s parent flutter entertainment The index also fell nearly 2% after the news, but remained positive on the day, rising 0.4%.
Both Flutter and DraftKings have struggled over the past year due to concerns about how prediction market platforms that offer sports-related event contracts could disrupt their sports betting operations.
trading platform robin hoodwhich offers contracts from various prediction market platforms, also fell after the Times’ initial report.
