Masters action shows ongoing sports-betting growth of prediction markets

Sports books are in danger of taking a backseat to prediction markets.

Via Front Office Sports, more than $545 million was wagered on Kalshi for the 2026 Masters. Bets on the winner of the event totaled $460 million.

That gave it the second-highest volume in company history, behind only the 2024 presidential election, at $535 million.

Rory McIlroy won the tournament for the second straight time.

Last week, Kalshi CEO Tarek Mansour gave his views on the differences between sports books and prediction markets. At the core, however, they're the same. Betting is betting is betting. And it's a very safe bet that both will continue to make money, thanks to the distinctly American delusion that it's possible to get rich quick.

The only caveat for prediction markets is the seemingly inevitable decision by the U.S. Supreme Court regarding whether the states have authority over prediction markets. The federal government believes it has exclusive jurisdiction over the form of betting that removes "the house" from the equation and makes the prediction market the facilitator for direct wagers between users.