Prediction markets have taken bets worth close to $2bn on which country will win the World Cup, putting them on course to potentially break the record for the biggest market in history more than five weeks before the final.
On the eve of the tournament, which kicks off in Mexico on Thursday, the volume of bets placed on the winner on Polymarket alone has surpassed $1.8bn. A similar market on Kalshi, which is more US-focused, has amassed roughly $120mn.
The expanded 48-team World Cup, which features an additional 40 games compared with previous editions, has been talked up by gambling executives as the “biggest betting opportunity” in history.
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