World

FIFA

Brian

Kalshi added 3 million users during the <a href="https://yellow.com/news/spain-world-cup-win-5-5b-bets" rel="noopener noreferrer nofollow">2026 FIFA World Cup</a>, while its tournament-winner contract generated more than $1.2 billion in trading.
<h2 id="key-points">Key Points:</h2>
<blockquote>
 <ul>
 <li>Kalshi said the World Cup brought 3 million new users to its platform.</li>
 <li>Its tournament-winner contract became the platform’s largest single market.</li>
 <li>State and federal disputes over sports event contracts remain unresolved.</li>
 </ul>
</blockquote>
<h2 id="kalshi-world-cup-growth">Kalshi World Cup Growth</h2>
The prediction market platform <a href="https://beincrypto.com/kalshi-3-million-users-world-cup/" rel="noopener noreferrer nofollow">disclosed</a> the figures after Spain defeated Argentina 1-0 in extra time on Jul. 19, ending the expanded tournament across the United States, Canada and Mexico.
More than $1.2 billion traded on Kalshi’s contract covering the eventual champion, setting a platform record for one market. Activity across other contracts also rose during the competition.
Kalshi supported the push with stadium branding through ADI Predictstreet, FIFA’s official prediction market sponsor, and a partnership with Argentina’s national team. It also ran promotions involving Luka Modric and Jose Mourinho.
The company worked with OpenAI to display Kalshi probabilities in some ChatGPT search results. Tarek Mansour, Kalshi’s CEO, said the platform focuses on events already driving public attention.
“Our volumes are where the news is at,” Mansour told CNBC.
Also Read:<a href="https://yellow.com/news/spain-world-cup-win-5-5b-bets" rel="noopener noreferrer nofollow">Spain's World Cup Win Draws $5.5B Across Polymarket And Kalsh</a>
<h2 id="prediction-market-regulation">Prediction Market Regulation</h2>
The user surge does not remove Kalshi’s legal exposure. Several states argue that sports event contracts operate like conventional sports betting, while the company maintains that federal commodities law governs its markets.
That dispute has produced litigation involving the Commodity Futures Trading Commission and Kentucky. The outcome could affect how prediction platforms advertise sports contracts and where they may offer them.
Vijay Viswanathan, an associate dean at Northwestern University, said soccer gives marketers access to an unusually broad international audience. Brian Sung, a partner at Haynes Boone, said promotion may shape public and regulatory perceptions, even when it does not determine a court ruling.
High activity also brought visible losses.
One Polymarket trader reportedly lost $11.6 million on World Cup positions in early July.
Kalshi must now determine whether those new users remain active without daily matches. Mansour said volumes have fallen after previous major events, but he expects other news cycles to produce new trading demand.
The World Cup offered an exceptional concentration of matches, global attention and clear outcomes. That combination explains the record, but it also makes the tournament a difficult benchmark for Kalshi to repeat.
Alt Text: Prediction market activity surges as Kalshi gains 3 million users during the FIFA World Cup (Image: Shutterstock)

Kalshi Adds 3M Users As World Cup Trading Breaks Platform Records

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