10:14:23 EDT Wed 24 Jun 2026
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Meta CDR (CAD Hedged)
Symbol META
Shares Issued 24,850,000
Close 2026-06-23 C$ 30.00
Market Cap C$ 745,500,000
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Globe/NYT say Meta eyes creating prediction markets app

2026-06-24 07:10 ET - In the News

The Globe and Mail reports in its Wednesday edition that Meta chief Mark Zuckerberg is looking to create a smartphone app similar to Polymarket and Kalshi. A New York Times dispatch to The Globe reports that users would not wager money, and the app would probably rely on a video-game-like points system instead, one source said, though the company had not ruled out the eventual use of real-money betting. The app, known internally as "Arena," will operate independently from Meta's social networking platforms like Facebook and Instagram. Meta plans to grow the app by leveraging its large user base. The initiative, seen as experimental yet crucial, aligns with Mr. Zuckerberg's goal to develop new apps reflecting emerging on-line social behaviour. With over 3.56 billion daily visitors to Meta's apps, concerns have been raised about potential saturation. Arena is one of several apps Meta is testing, including Meta Photos and another artificial intelligence-driven media creation app, according to employees. For years, Mr. Zuckerberg has pursued growth by monitoring changing user behavior on-line and quickly mimicking fast-growing competitors like Snap with similar apps and features. Those efforts have had mixed success.

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