Meta chief executive Mark Zuckerberg has directed employees to develop a prediction markets app called Arena that would operate separately from the company’s existing social media products, The New York Times reported on Tuesday, citing two employees familiar with the…

The Meta CEO reportedly plans for the company to launch a prediction market independent of its other apps, allowing users to place wagers using a points system rather than money.

Meta has reportedly formed a team to develop a prediction market app called Arena, a signal of the company’s entry into a sector that has attracted growing interest from both retail users and institutional investors. According to a report from…