2026 FIFA World Cup Odds Update: Spain and Belgium Advance, USA Eliminated

The 2026 FIFA World Cup is rapidly narrowing its field as the tournament enters the business end.

Monday's Round of 16 slate (July 6) delivered two decisive results that reshaped the competition. Spain punched its ticket to the quarterfinals with a 1-0 triumph over Portugal, courtesy of a stoppage-time strike that also marked the end of Cristiano Ronaldo's World Cup journey.

That same evening, Belgium dismantled host nation Team USA with a commanding 4-1 victory, securing the Belgian side's own quarterfinal berth.

With ten nations still alive in the tournament and just two Round of 16 encounters left to play, oddsmakers have recalibrated their championship projections. The Kalshi prediction market has now surpassed $1 billion in total betting activity for the World Cup as the path to lifting the trophy comes into sharper focus.

The updated Top 10 favorites reflect the latest shifts in betting data as the competition heads toward its climax.