Kalshi gets 3 million users amid World Cup betting

Spain has won the 2026 FIFA World Cup – and millions of new Kalshi users either won or lost money betting on the game.

According to Kalshi market forecast, platform brought in 3 million new users during the World Cup tournament, which began on June 11 and ended with Spain’s final against Argentina on July 19.

In addition to millions of new users, the company said that the World Cup broke the record for the most money sold in a single market. Kalshi says more than $1.2 billion in business, the term the company uses to describe bets, was made to predict the winner of the World Cup.

Kalshi had a big presence in the World Cup. The company collaborated with the stars of the game, such as Luka Modrić of the Croatian national team, who served as a brand ambassador and appear in a commercial. Kalshi also had cooperation with the national team of Argentina and received a featured post for the brand on Lionel Messi’s Instagram account, which has more than 512 million followers.

A commercial featuring A-lister Timothée Chalamet was also frequently seen in the US market.

Despite their constant presence at all competitions, neither Kalshi nor its biggest competitor, Polymarket, were official sponsors of the FIFA World Cup. A smaller, new prediction market called ADI Predictstreet was deemed the “Official Prediction Market Partner of the 2026 FIFA World Cup.” However, Kalshi even found a way there. Kalshi partners and ADI Predictsteet in branded ad placement. In addition, website visitors from markets where ADI Predictstreet was not legally allowed to serve were told to visit Kalshi to place their business in a prominent banner featured on the ADI Predictstreet home page.

Prediction markets like Kalshi have been heavily criticized as they have exploded in popularity. There have been many are owed events of illegal domestic trade on these platforms. Critics have also pointed out how prediction markets allow users to trade on topics that may trigger dangerous consequences. Gambling It can also be very addictivewhich is one reason sports betting is heavily regulated.

For its part, Kalshi does not see itself as a place for gambling. In a statement to Mashable, a company spokesperson said, “Kalshi is an exchange, not a betting platform where houses place bad bets. People trade against each other, which means there’s no incentive for us to include losers and limit winners.”

Some US states have also targeted sports betting on betting markets, in particular. These states have he argued that the betting markets are running illegal sports betting activities while trying to block the activities on these platforms in court.

For now, though, it seems prediction markets like Kalshi continue to grow with every major event, such as the World Cup. At this point, it’s a sure bet.

UPDATE: 20 July 2026, 5:39 pm EDT This article has been updated with information from Kalshi about the difference between gambling and trading.