We study an inverse problem for the fractional wave equation with a potential by the measurement taking on arbitrary subsets of the exterior in the space-time domain. We are interested in the issues of uniqueness and stability estimate in the determination of the potential by the exterior Dirichletto-Neumann map. The main tools are the qualitative and quantitative unique continuation properties for the fractional Laplacian. For the stability, we also prove that the log type stability estimate is optimal. The log type estimate shows the striking difference between the inverse problems for the fractional and classical wave equations in the stability issue. The results hold for any spatial dimension n ∈ N.