The marketing push has moved beyond screens and into supporter culture. After Erling Haaland became a major online talking point, Kalshi reportedly organised a lookalike contest in Miami within a week. A similar event followed in New York for Lionel Messi ahead of the final.
Brandon Beckhardt described the operation as a small, fast-moving group that reacts to online momentum rather than a fixed campaign calendar. He compared it to a “newsroom or war room”, with staff tracking what is capturing attention and building events around it.
That approach fits modern football: players become memes, memes become news, and news becomes a marketable moment before the conversation moves on.
The report says Kalshi’s valuation reportedly rose from $11bn in December 2025 to $22bn by March 2026, then reached $40bn in late June amid early IPO discussions. The speed of that rise has intensified scrutiny over what prediction markets should be allowed to offer.
The report also says the Commodity Futures Trading Commission is seeking to block contracts linked to injuries, officiating decisions and other discrete sporting outcomes while defending game-result contracts. Kentucky has separately sued Kalshi over allegedly unlicensed sports betting, with the company challenging the state’s position.
Maman said “roughly 75% of people who visit Kalshi do not trade”, presenting the markets as a real-time measure of public belief rather than simply a wagering product. That distinction will remain central to the regulatory debate, particularly when football contracts are tied to emotionally charged events.
As the tournament’s afterglow fades, the next test is whether Kalshi can turn World Cup attention into lasting football relevance - and whether regulators allow that expansion to continue.