Developments at PRED are going well & with our first campaign wrapping up, it’s hard to ignore things happening out in Prediction Markets. Let’s take a look at the news around the world 👇
The 2026 FIFA World Cup Winner market led all sports prediction markets with $310.4 million in total volume and $9.1 million in 24-hour activity, with Spain priced as the favourite at 15%. The UEFA Champions League Winner market held $283.7 million in total volume, while the NBA Championship market posted $4.4 million in 24-hour volume with the Oklahoma City Thunder leading at 36%
Polymarket hosted 2,940 active sports markets as of March 23, with the 2026 FIFA World Cup Winner market ranking as the single most active market on the entire platform.
Kalshi alone cleared $60 million in trading volume on its championship futures market before a single first-round game tipped off. Platforms projected $135–$150 million in total handle over the full three weeks of the tournament representing 3.5% of total March Madness betting volume.
Duke led Kalshi's championship odds at 19–21%, with Michigan at 18 cents, Arizona at 16–17%, and Florida at 11% — the four genuine contenders in a field where everyone else was, as traders put it, "noise.”
Men's college basketball had been Kalshi's most bet-on sport in February, recording $2.27 billion in trading volume for the month alone.
On March 17, the prediction markets legal war escalated from civil to criminal for the first time. Arizona Attorney General Kris Mayes filed criminal charges against Kalshi, accusing it of operating an illegal gambling business, the first-ever criminal charges filed against a prediction market company in the United States.
The 20-count criminal information alleged that Kalshi accepted bets from Arizona residents on professional and college sporting contests, individual player performance proposition bets, and four counts of election wagering including markets on the 2028 presidential race and Arizona's 2026 gubernatorial race.
Legal expert Daniel Wallach described Arizona's strategy as a potential "fine-tuning" of how states attack prediction markets — shifting from cease-and-desist letters toward criminal enforcement that could actually shut down operations rather than simply impose fines.