SITUATION EXPLAINED: Meta is building a prediction markets app. • Internally called Arena, similar to Polymarket and Kalshi but with points instead of real money • Meta already built a crowdsourced prediction market app in 2020 called Forecast, no real money, similar to Metaculus. It never took off • Prediction markets have exploded to $130 billion in online trades on Kalshi and Polymarket • Meta insiders cautioned Arena remains in development and may not be released • Research shows play…