Prediction markets boom on World Cup betting

Prediction market platforms have emerged as a new force in the U.S. sports betting market, driven by this year's FIFA World Cup, CoinDesk reported. Kalshi saw its notional trading volume in June surge by more than 70% from the previous month to $31 billion, with approximately 85% of the trades stemming from sports-related contracts. The company explained that World Cup-related trades alone accounted for $22.42 billion. Polymarket also set a new record with a monthly trading volume of $10.8 billion on its overseas platform, while its U.S. platform showed sharp growth with $3.5 billion in volume.