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Egypt just did something it has never done in 92 years of World Cup history: win a knockout-stage match. The Pharaohs edged Australia 4-2 on penalties after a 1-1 draw in the round of 32 on July 3, advancing to the round of 16 for the first time ever. It’s their fourth World Cup appearance overall, following qualifications in 1934, 1990, and 2018.
A tournament built for engagement, and for betting
The 2026 World Cup is the first to feature 48 teams, up from the traditional 32. That expansion means 12 groups of four, with the top two from each group plus the eight best third-placed teams advancing to a knockout round. The total match count has ballooned to 104 games across three host countries: Canada, Mexico, and the United States.
Polymarket, the decentralized prediction platform that became a household name during the 2024 US election cycle, saw over $4 million in betting volume on the Australia-Egypt matchup alone.
FIFA itself has leaned into this trend. The governing body previously partnered with ADI Predictstreet to build an official prediction market platform on the ADI Chain network.
Kraken enters the arena
The crypto exchange Kraken signed on as the Official Crypto Exchange Supporter of the 2026 World Cup, a deal announced in June 2026. The partnership focuses on fan experiences and driving crypto adoption across North America and Europe, the two regions where the tournament’s cultural footprint is largest.
Memecoins, because of course
Solana-based tokens tied to participating national teams have seen increased interest throughout the tournament. Egypt’s dramatic penalty victory is exactly the kind of narrative-driven moment that fuels memecoin speculation.
Egypt plays its round-of-16 match next. The Pharaohs haven’t been this deep in a World Cup since, well, ever.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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