World Cup Boost Sends Kalshi, Polymarket June Trading Volume to $44.8 Billion

Trading on prediction-market platforms Kalshi and Polymarket surged amid betting tied to the FIFA World Cup.

The Block reported on July 2 that combined monthly volume on Kalshi, Polymarket and Polymarket US reached $44.8 billion in June, up about 75% from $25.66 billion in May.

Kalshi posted the strongest growth. Its June trading volume climbed 87.4% from the previous month to $31.5 billion from $16.81 billion in May.

Polymarket, which serves users outside the US, recorded $10.26 billion in volume, up about 45% from a month earlier. Polymarket US, which is subject to US regulation, also saw volume rise to $3.04 billion from $1.77 billion over the same period.

The surge was driven by the FIFA World Cup, which began on June 11. More than $832 million has been wagered so far on Kalshi's market for the tournament winner, and about 35% of participants picked France to win the title.

Trading has also been active on Polymarket's match-by-match prediction markets. Each game is generating roughly $500,000 to $2 million in volume, and this year's World Cup runs through July 19.

The platforms are also facing regulatory risk in the US. More than 10 state governments have launched legal action, alleging that Kalshi and Polymarket are offering sports-betting services without authorization.

Kalshi and Polymarket, however, argue that they can offer sports-related event contracts under federal law with the Commodity Futures Trading Commission and that federal oversight preempts state regulation.