Meta finds a new 'gold mine'.

This latest move shows that Meta is continuing to explore new product models in the context of rapidly changing user behavior on the Internet.

Meta is exploring new application development in the field of market forecasting. Photo: Reuters .

Meta is developing a new prediction market application. The project, internally codenamed Arena, has recently been directly overseen by CEO Mark Zuckerberg.

According to internal sources, Arena will have a mechanism similar to Polymarket and Kalshi, two of the leading prediction market platforms currently on the market. Users on these platforms can bet on the outcomes of various events. Topics can include sports, politics , entertainment, or news.

However, Arena may not use real money in the initial phase. A source indicates the app will most likely use a points system, similar to a video game. Nevertheless, Meta has not ruled out the possibility of adding real money betting in the future.

Billion-dollar gold mine

Arena is designed as a standalone app. It's not directly integrated into Facebook, Instagram, WhatsApp, or Messenger. Meta seems to want to leverage its large user base to draw them into experiencing the new product.

The project is currently in the development and testing phase. However, some industry experts believe this is a key priority at Meta. It reflects how Zuckerberg typically approaches new products: he monitors emerging internet behavior, and then Meta seeks to build its own version of that trend.

CEO Mark Zuckerberg tends to develop apps that follow trends. Photo: New York Times .

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According to the New York Times , Meta's strategy isn't new. For years, the social media giant has learned from or copied popular features from competitors. The company has done this before with Stories, short videos , and many other social content formats.

However, the results weren't always successful. Meta had tried many independent apps. In 2019, the New Product Experimentation team developed products related to podcasts, travel, music , and dating. According to sources, very few of the apps achieved significant traction.

Nevertheless, Meta still has reasons to continue experimenting. Facebook and Instagram are currently heavily focused on video. This narrows the space for testing new ideas within their main apps. Therefore, the company is looking to separate applications.

Previously, Facebook's parent company launched Forecast in 2020. This application allowed the community to make predictions about events during the early stages of the Covid-19 pandemic. The app used a points system, not real money. However, it was discontinued in 2022 due to a lack of user engagement.

A huge opportunity

Currently, the forecasting market is experiencing strong growth, making Polymarket and Kalshi prominent names. They appear in major sporting events and television programs. According to the New York Times , these two platforms are projected to record a combined transaction value of approximately $50 billion in 2025. This figure has already exceeded $130 billion this year.

However, this boom comes with many risks. Prediction markets allow users to bet on a variety of events. This can create opportunities for those with inside information to profit.

Market prediction platforms are attracting a large number of users. Photo: New York Times .

Several suspicious transactions on Polymarket have drawn attention in Washington. In April, federal prosecutors in New York accused a member of the U.S. Special Forces of using classified information to bet on a plan to arrest Venezuelan President Nicolás Maduro. According to prosecutors, the individual earned more than $400,000 from the bet.

Information about Meta developing Arena also quickly drew criticism. Senator Richard Blumenthal argued that the company was venturing into a sensitive area.

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“Meta copied slot machines to get kids addicted on Instagram. Now Zuckerberg is turning his company into a prediction marketplace,” Blumenthal wrote on social media on June 23.

Source: https://znews.vn/cong-ty-me-facebook-tim-mo-vang-moi-post1662603.html