World Cup Created 54 Cryptocurrency Millionaires, 130,000 Players Lost Money

Data analysis from DeFiOasis reveals that out of over 194,000 addresses trading contracts on the World Cup, nearly 130,000 ended with losses, meaning that almost two out of three market participants lost money. 54 addresses earned over $100,000, with five of them achieving profits exceeding one million dollars. On the other hand, 43 addresses lost at least $100,000, including one player who lost $4.2 million in a single day. The World Cup triggered the largest boom in the history of prediction markets, where sports betting accounted for about 80% of the turnover on Polymarket and Kalshi. The highest volume on Polymarket was reached in the week ending July 5, amounting to approximately $2.3 billion, which then dropped to $740 million two weeks later, representing a decline of nearly 70%. Kalshi also saw a decrease from around $9 billion to $4 billion. The performance of the platforms is heavily dependent on major events, with the upcoming event being the fall midterm elections in the USA.

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