NYT says Meta builds prediction market. These stocks are falling
Mark Zuckerberg, CEO of Meta Platforms Inc., leaves the Los Angeles Superior Court on Wednesday, February 18, 2026 in Los Angeles, California, United States.
Kyle Grillot | Bloomberg | Getty Images
Meta Platforms CEO Mark Zuckerberg directed his staff to create a prediction market platform. New York Times report on Tuesday.
The report said two employees with knowledge of the plans said the app, referred to internally as “Arena,” would be separate from Meta’s social media platforms Instagram and Facebook.
The Times added that the prediction market app will rely on a video game-style points system for trading, rather than real money, in contract with other prediction market platforms where investors bet money to speculate on future events. The report stated that the money could be used in the Meta application in the future.
The report stated that Meta will try to leverage its Facebook and Instagram user base to direct potential investors to the platform.
The company declined the Times’ request for comment and did not immediately respond to a request from CNBC.
DraftKings shares Tuesday
Sports betting platform DraftKings It fell more than 2% after the report was released, reaching the lowest level of the day. The stock was last down 1 percent. FanDuel parent Flutter Entertainment It fell by about 2% after the report.
Flutter and DraftKings have struggled over the past year over concerns about how prediction market platforms offering sports-related event contracts could disrupt their sports gambling businesses.
trading platform robinhoodThe New York Times, which offers contracts from various prediction market platforms, also fell following the Times report.
