Open interest drops 20% as Kalshi and Polymarket World Cup frenzy cools down

Odaily Planet Daily News: On the eve of the World Cup final, the combined open interest of Kalshi and Polymarket fell 20% from its peak of approximately $2 billion in early July, dropping from nearly $1.8 billion to about $1.5 billion. Kalshi's sports event trading volume fell to around $4 billion after peaking at approximately $9 billion during the week of July 5, while Polymarket saw a decline from roughly $2.3 billion to $740 million. During the World Cup, sports events accounted for about 80% of total trading volume on the two platforms. Spain defeated Argentina 1-0 on Sunday to win their second World Cup title in history. A total of 194,000 addresses participated in trading on Polymarket's World Cup winner market, with approximately two-thirds incurring losses.