Prediction Market Search Interest Down 83% from World Cup Peak; Kalshi Leads Volume

The collapse in search interest from a World Cup peak suggests prediction markets may be reverting to a core audience after a mainstream event-driven spike, a pattern familiar from past attention cycles. Kalshi's volume leadership is notable because it implies liquidity is concentrating even as top-of-funnel curiosity fades, which could matter more for market quality than headline traffic. The open question is whether that volume reflects durable, recurring participation or simply traders rotating in from platforms that benefited from the same search surge.