Prediction markets Kalshi and Polymarket saw a combined trading volume of $50 billion during the 2026 World Cup, outpacing U.S. sportsbooks.
During the 2026 World Cup, prediction market platforms Kalshi and Polymarket significantly outperformed traditional U.S. sportsbooks, achieving a combined trading volume of approximately $50 billion.
Kalshi reported a trading volume of over $31 billion in June, marking a remarkable 70% increase from May, with 85% of this volume stemming from sports-related contracts. Meanwhile, Polymarket set a new monthly record of $10.8 billion, while its regulated U.S. counterpart generated $3.5 billion.
Additionally, the joint venture between Robinhood and Susquehanna International Group, known as Rothera, processed $2 billion during the tournament.
Prior to the event, research firm Eilers & Krejcik projected that legal U.S. sportsbooks would handle between $2.8 billion and $4.3 billion in bets throughout all matches. In contrast, World Cup-specific markets on Kalshi alone garnered $7.4 billion before the conclusion of the group stage.
This surge in trading activity coincided with a notable increase in user engagement. By the end of June, Kalshi saw a 36% rise in daily users compared to mid-June, bolstered by its partnership with FIFA, which promoted the platform alongside Fox Sports.
In stark contrast, user activity on major sportsbooks like DraftKings, FanDuel, BetMGM, and Caesars plummeted by 32-41% following an initial spike in interest related to the tournament.
Notably, Kalshi and Polymarket accounted for 78.5% of app installations among the six largest betting and prediction market applications, a significant increase from approximately 6% the previous year. However, in June, U.S. gambling associations called on the Senate to impose restrictions on prediction platforms linked to sports and gambling.
