Polymarket Is Suffering From a Terrible World Cup Comedown

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world The World Cup was a winner for prediction markets, as bets on scores, celebrity match attendees and Cristiano Ronaldo’s tears added tens of billions of dollars in trading volume to Polymarket’s and Kalshi Inc.’s order books. And like many a good time, a hangover has followed. Still, the resulting summer trading lull is an opportunity to step back and assess this emergent corner of finance. What was a fierce rivalry between its two biggest players is in danger of fizzling out, with Polymarket’s decline worsening without a major sporting draw or political event to bolster demand. Combined weekly trading volume on its international and US-only exchanges fell 56% at the end of last month from June’s record high, according to user-compiled data on Dune Analytics.

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