The 25-year-old singer dropped the song, for which she teamed up with frequent collaborator Victoria Monet, on Monday night (01Apr19).
Fans were quick to praise Ariana for the catchy tune, while others pointed out the lyrics when she sings: "I like women and men (yeah)."
One fan took to Instagram to ask Victoria, who came out as bisexual last year, whether or not Monopoly references Ariana's sexuality, writing: "IS SHE BI OR NAH."
And Victoria replied with a cryptic: "She said what she said," which the majority of Ariana's followers took as confirmation.
"If Ariana is bisexual and this is her way of coming out, then I’m so proud of her,” one wrote, while another added, "If it isn’t then thank you for the bisexual anthem ma’am!"
Ariana has yet to publicly comment on the sexuality speculation, but when she shared the video on her Twitter page she wrote: "MONOPOLY out now. everywhere. a celebration and a ‘thank u’ for everything! Love, me & @victoriamonet."
She also added: "To friendship, freedom, protecting your energy and staying right in your bag we love you."
It's not the first time Ariana has sparked rumours about her sexuality. Fans began wondering about her orientation following the release of the video for her tune Break Up With Your Girlfriend, I'm Bored. While Riverdale's Charles Melton starred in the video as the object of Ariana's affection, she was also seen getting close to his girlfriend in the clip - with the pair kissing at the end.
Ariana has also long allied herself with the LGBTQ community, telling Troye Sivan in an interview for Paper magazine previously: "There’s nothing, I swear to God, honest to God, knock me out, I swear on my life, more rewarding than seeing sweet little gays in the audience moving along to my choreography. Or a drag queen coming into my meet-and-greet with like a 40 pound ponytail and thigh-high boots. It’s the most fulfilling, like it makes my heart scream. It’s the best reward."