TLDR
- Kalshi’s trading volume hit $31 billion in June, a jump of over 70% from May, driven largely by World Cup betting.
- Trump’s teleprompter operator, Gabriel Perez, made over $100,000 betting on speech-related markets and is now negotiating a settlement with the CFTC.
- A New York judge let FanDuel founder Nigel Eccles’ lawsuit against Flutter Entertainment move forward.
- Bryce Harper denies knowing his Cameo video would be used in a FanDuel marketing campaign now tied to a gambling addiction lawsuit.
- Illinois sports betting handle dropped 10.2% in May compared to last year, marking the fourth monthly decline in 2026.
Prediction markets had a busy few weeks, according to a new industry recap covering gambling headlines through mid-July. Trading platform Kalshi saw its volume climb to $31 billion in June. That figure is up more than 70% from May.
The World Cup accounted for over 72% of that trading activity. Polymarket’s US platform also grew fast, with $3.5 billion in June trades, nearly double its May total. Robinhood’s prediction market arm, Rothera, processed $2 billion in its first month.
Kalshi Volume Keeps Climbing
The momentum continued as the World Cup progressed. Kalshi recorded $2.1 billion in volume during last Saturday’s quarterfinal matches. The two semifinals this week brought in roughly $1.3 billion combined.
Spain and Argentina are set to meet in Sunday’s final. Kalshi is reportedly outpacing rivals in app downloads as football season approaches later this year.
Not all the news was positive for the platform. ABC News reported that Gabriel Perez, President Trump’s teleprompter operator since 2016, profited more than $100,000 by betting on the State of the Union address and other Trump speeches.
Kalshi flagged the activity and reported it to the Commodity Futures Trading Commission. Perez is now negotiating a settlement with federal regulators over the trades.
Legal and Regulatory Fallout
FanDuel founder Nigel Eccles saw progress in his legal fight against Flutter Entertainment. A New York judge rejected most of the defendants’ motion to dismiss the case.
Eccles claims the FanDuel board undervalued the company during its merger with Paddy Power Betfair. He argues this cost shareholders billions of dollars. Eccles called the ruling an important step toward presenting evidence in court.
Baseball star Bryce Harper also found himself in the news. He recorded a Cameo video for a fan named Terry Thompson at the request of a FanDuel host.
The video was later used to promote the sportsbook. Thompson is now suing FanDuel and DraftKings, alleging the companies exploited his gambling addiction. Harper says he did not know the video would be used commercially.
Sports betting in Illinois continues to slow down. State figures show handle fell 10.2% compared to the same month last year. That marks the fourth monthly drop of 2026 and the largest so far.
Bettors placed 21% fewer wagers in May compared to last year. Meanwhile, Hawthorne Race Course, a longtime horse racing venue, was sold to a Delaware-based company. The new owner has no stated plans to continue horse racing there.
Conor McGregor’s return to the octagon also drew heavy betting interest. His fight became the most-bet event in BetMGM history, with 85% of tickets placed on him.
McGregor lost by injury 69 seconds into the bout. He is now asking for the result to be ruled a no-contest so bettors can get refunds.
Kalshi also rolled out new contracts tied to flight cancellations and delays. The self-certified markets let users bet on flight status outcomes for travel planning purposes.
