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Soccer bets soar: Kalshi doubles traffic during World Cup
24 Jul
Summary
- Kalshi experienced double its projected user traffic and trading volume.
- The startup recorded $27 billion in trading volume and 3 million users.
- Kalshi faces legal challenges from states over gambling laws.
Prediction market startup Kalshi experienced a significant surge in activity during the 2026 FIFA World Cup. The company recorded approximately $27 billion in trading volume and attracted about 3 million users throughout the tournament. These figures represent roughly double the startup's initial projections.
The expanded 48-team World Cup, which concluded recently, proved to be the most lucrative in FIFA's history. Kalshi's success during this period has propelled the platform into a wider array of event contracts beyond sports.
Despite its growth, Kalshi faces considerable regulatory and legal challenges. Critics argue that prediction markets function as illegal gambling operations prone to addictive behavior and insider trading. Federal regulators are investigating a potential insider trading case involving a former teleprompter operator for U.S. President Donald Trump on Kalshi.
The company is also engaged in litigation with several U.S. states. Massachusetts initiated legal action seeking an injunction, and Washington recently secured an order to block Kalshi, with a judge ruling that its event contracts likely violate state gambling laws.
