Polymarket, the top player in prediction markets, is seeing increased volume as it becomes a go-to platform for traders looking to wager on the ongoing World Cup.
Data shows that Polymarket and Kalshi, its biggest competitor, are taking some market share from traditional sports betting companies like DraftKings and FanDuel.
The prediction of who will win the World Cup has hit the crucial $3 billion milestone on Polymarket. Most users are betting on France, followed by Spain. A similar poll on Kalshi has attracted $425 million in bets, with most users betting on France and Spain.
The other most popular poll on Polymarket is on the Democratic and Republican nominees for the next election. On the Democratic side, the poll has over $1 billion in assets, while the Republican side has $663 million. A poll on the winner between JD Vance and Gavin Newsom has $634 million, with JD Vance leading.
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The other popular polls on Polymarket are about the next F1 driver’s championship and when Netanyahu will be out of office. Most users are betting that he will be out by December this year. Other popular polls are on the elections in France and Brazil.
Still, third-party data shows that some Polymarket metrics are dropping this month. For example, the regular volume on the platform has slipped to $2.6 billion this month from a record high of $5 billion in March. Its notional volume has retreated to $6.8 billion, while the number of transactions per active wallet has fallen to 22 from an all-time high of 44.
Another report by DeFi Llama shows that Kalshi’s DEX volume is $5.3 billion this month, down from last month’s high of $6.15 billion. Polymarket handled over $2.6 billion in the same period.
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