Kalshi has welcomed 3 million new users during the 2026 FIFA World Cup, as the prediction market trading volume saw a significant uptick coinciding with the global tournament.
According to CNBC, over $1.2 billion has been traded on Kalshi’s contracts predicting the World Cup winner, setting a new record for a single market on the platform, which concluded on Sunday following Spain’s triumph over Argentina in the finals.
“There’s no sport that compares to football,” said Vijay Viswanathan, Associate Dean of Integrated Marketing Communications at Northwestern University, in comments to CNBC. “It’s played in virtually every country… so the total addressable market for the FIFA World Cup is unmatched.”
Collaboration with prominent brands across sports and entertainment
Kalshi teamed up with ADI Predictstreet, recognized as the official prediction market sponsor of the World Cup, to execute co-branded advertising within stadiums. Additionally, the firm collaborated with OpenAI to showcase contract odds to users searching for World Cup matches on ChatGPT.
Further promotional efforts featured Croatian soccer icon Luka Modric, legendary Real Madrid coach José Mourinho, and a collaboration with the Argentina national team, which earned a shoutout from Lionel Messi on Instagram.
“Our volumes reflect the current events,” stated Kalshi CEO Tarek Mansour, responsible for the company’s marketing strategy. “It’s largely our approach for the World Cup… the key is to spark creativity based on ongoing developments.“
Mansour highlighted the rapid production as a strategic asset. An advertisement showcasing former professional soccer players in a scrimmage was produced within 24 hours, he noted.
Kalshi expanded its advertising beyond soccer personalities, launching a campaign featuring actor Timothée Chalamet in June, synchronized with his appearances at New York Knicks games during the NBA Finals, along with a commercial with Colombian singer J Balvin this month.
“This also serves as a reminder to audiences,’oh, but we’re also relevant to a diverse range of individuals who might not be as interested in sports,’” commented Elizabeth Johnson, Executive Director of the Wharton Neuroscience Initiative at the University of Pennsylvania. “They’re seizing this opportunity to highlight the pervasive nature of prediction markets.”
Regulatory challenges surrounding sports contracts persist
Contracts related to sporting events remain a contentious issue among federal and state regulators. States argue that these contracts resemble sports betting, an activity governed by state law.
Kalshi insists that the Commodity Futures Trading Commission, which regulates swaps and derivatives, holds exclusive authority over prediction markets. Mansour attributed the opposing views to gambling firms anxious about losing their market supremacy.
Kalshi now aims to transform new registrations into repeat users. Trading activity on days without World Cup matches has not matched the volumes witnessed during game days.
Mansour noted that this trend follows a historical pattern observed post-major events, where trading activities initially rise, then dip, before rebounding in line with new news cycles.
“You have to assume that no significant news occurs after Sunday,” he stated. “It’s possible… but the more likely scenario is that several events will unfold globally, and Kalshi will be ready to support them.”