World Cup Booms on Kalshi, Trump’s Teleprompter Operator Caught Insider Trading in This Week’s Bingos & Busts
Our weekly recap of gambling industry headlines includes massive World Cup trading volume on prediction markets, a Trump technical assistant and Bryce Harper missing the obvious, Nigel Eccles, and Seinfeld.
As Spain and Argentina prepare to face off in Sunday’s FIFA World Cup 2026 Final, trading volume keeps skyrocketing on prediction markets. The quadrennial event has put an exclamation point on the exchanges’ arrival, erasing any doubt – if in fact there was any – about their prominence in the sports betting ecosystem.
Prediction markets’ exponential growth, of course, has come with its share of pain. Thursday brought news of yet another insider trading scandal, this one involving the operator of President Trump’s teleprompter.
Elsewhere, Bryce Harper issues a specious denial regarding his involvement in FanDuel’s under-fire customer relation practices, Conor McGregor makes a futile plea, and Seinfeld fans get a laugh from Kalshi’s new self-certified markets.
Here’s a look back at some of the highs and lows in the gambling industry this week:
Bingo: World Cup Goes Huge on Kalshi
Trading volume on Kalshi exploded to $31 billion in June, up more than 70% from May, the FIFA World Cup accounting for over 72% of that figure, according to CoinDesk. Polymarket’s US version transacted $3.5 billion in June trades, nearly doubling May, while Robinhood’s Rothera did $2 billion during its launch month. Business has stayed hot as the tournament has progressed, as Kalshi saw record volume of $2.1 billion when two quarterfinals were contested last Saturday, and about $1.3 billion on the two days of this week’s semifinals, casting eyes toward Sunday’s championship game — and beyond. With football season kicking off in a matter of weeks, Kalshi is acquiring customers in droves, lapping its prediction market and sportsbook competition in app downloads.
Bust: Trump Technical Assistant Busted for Insider Trading
We’ll take “Ones We Should Have Seen Coming” for $500, Ken. If there’s anyone with insider information about Trump mention markets, it’s the President’s teleprompter operator, and sure enough, ABC News reported that Gabriel Perez, who’s been on the job since 2016, profited over $100,000 by betting on the State of the Union and several more of Trump’s speeches. Kalshi finally noticed the suspicious activity and notified the CFTC, something Gabriel, who is negotiating a settlement with federal regulators, probably should have seen coming.
Related: Controversy Didn’t Stop Kalshi From Offering Trump Mention Markets
Bingo: Eccles Clears Legal Hurdle in Case Against Flutter
FanDuel founder Nigel Eccles’ lawsuit against Flutter Entertainment moves forward thanks to a New York judge’s decision to largely reject the defendants’ motion to dismiss the case. Eccles claims the FanDuel board’s fraudulent devaluation of the company in its merger with Paddy Power Betfair robbed him and other shareholders of billions of dollars. On X, Eccles calls the ruling “an interim but important step as we move towards being able to present all of the evidence in court.”
Bust: If Bryce Harper Didn’t Know, He Should Have
Bryce Harper insists he was unaware that a Cameo he recorded for a fan named Terry would be used for commercial purposes. FanDuel VIP host Bryttanni Morgan made a personal request for Harper to make the video, which she sent to customer Terry Thompson, who’s suing the operator (and DraftKings) for exploiting his gambling addiction. Harper’s denial, though, fell as flat as his performance in the Home Run Derby hours later. “Your host Bryttanni from FanDuel wanted to make sure your Thanksgiving was extra special,” read the script, drawing a seemingly obvious association between himself and the sports betting brand.
Bust: Tough Days for Gambling Industry in Illinois
Whether it’s an effect of the unprecedented per-wager tax, competition from prediction markets, or books bleeding bettors dry, Illinois’ sports betting numbers continue to drop. The state’s recently reported figures for May show a 10.2% decline in handle from last year, the fourth and largest month-to-month drop in 2026. Illinois bettors placed 21% fewer wagers this May than last. Meanwhile, the days of horse racing at Hawthorne Race Course appear to be numbered, as news broke this week that the facility has been sold to a Delaware-based company with no plans to keep the sport alive at the historic track.
Bust: McGregor Lets Bettors Down
Bettors wanted to believe in Conor McGregor in his return to the octagon after a five-year hiatus. The main event at UFC 329 became the most-bet fight in BetMGM history, with action on McGregor accounting for 85% of tickets and 73% of handle at the sportsbook. While Max Holloway was awarded the victory after McGregor bowed out with a knee injury 69 seconds into the bout, McGregor is making a futile plea that the fight be ruled a no-contest so that his lighter-in-the-wallet backers are refunded.
Bingo: Kalshi’s Flight Contracts Ring Familiar to Seinfeld Fans
Kalshi has self-certified new contracts tied to flight cancellations, and while there’s certainly potential utility in these markets for businesses and vacationers, we assign a bingo here for pure hilarity. As Seinfeld fans recall, Kramer – who had a bit of a gambling problem – can’t resist an offer from Earl Haffler, a Texan he meets at the airport, to wager on a few departures and arrivals. Kramer rallies after falling into a $3,200 hole, and yada yada yada, he’s accused by his counterparty of insider trading, who rips up Cosmo’s winning check.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
