Prediction markets are having a moment. Weekly trading volumes hit $14.5 billion for the first time last week, and now Kalshi is riding the World Cup wave with a high-profile partnership.
The exchange announced a deal with ADI Predictstreet, a Gibraltar-licensed prediction market that became an official FIFA sponsor in April. Starting with the knockout stage, both brands will show up across stadiums, TV spots, and online ads.
Outstanding bets — the money still riding on open positions — hit a record $1.6 billion for the third straight week, according to data from Artemis. Kalshi dominated the sports wagering segment with 62% of total volume, compared to Polymarket’s 28%.
Both platforms are going hard on marketing. Polymarket ran an ad featuring rapper Future, while Kalshi partnered with Croatian football star Luka Modrić. DraftKings is also jumping in, launching its own prediction market called DKeX.
Smaller players are surging too. Rothera, an exchange that Robinhood started routing wagers to in May, saw weekly volumes explode from $2.1 million to $805 million.
Bernstein analysts recently called the World Cup a potential “watershed moment” for the sector, pointing to Robinhood and Coinbase both using the tournament to push their prediction market products. With trading volumes like these, it’s hard to argue.
