But the regulated US app and the global platform are fundamentally different products. The US version requires full KYC identity verification, is funded through registered futures commission traders instead of crypto wallets, and settles in US dollars. The global platform, still geoblocked to US IP addresses, has no identity checks, settles in USDC and carries a much wider range of markets.
The $571 million figure refers to Americans transacting on the global platform through VPNs and existing crypto wallets. Allium tracked wallet behavior rather than IP addresses, which is how a VPN that defeats geoblocking still leaves US fingerprints in the data.
Kalshi’s breakout moment
Kalshi was named FIFA’s Official Prediction Market Partner halfway through the tournament, and had branding rights, on-site presence and a media distribution deal with Fox Sports. However, user growth was already well under way when Kalshi signed its co-branding deal with ADI Predictstreet, the FIFA World Cup’s official prediction market partner, just four days before Apptopia on 26 June. Both Kalshi and Polymarket have advertised heavily during matches, where ads have been sent during the break, as well as the so-called hydration breaks during the American broadcasts.
App data from Apptopia showed that as of June 30, Kalshi’s daily active users were 36% above their June 15 level. During the same period, DraftKings fell 36% from its tournament peak, FanDuel fell 41%, and BetMGM and Caesars each fell 32%. Traditional sportsbook apps rose early and faded, while prediction markets built steadily throughout.
