Few Accounts Won Most Bets

New YorkBellingcat found 60,000 novelty markets, including one on Ronaldo’s tears.

One percent of trading accounts collected 86% of all World Cup winnings.

Contracts on Polymarket and Kalshi settle between users rather than against a house, sidestepping bookmaking law.

Regulators haven’t said whether that structure still counts as gambling.

Sources: Bellingcat