Crypto.com had FIFA's logo in Qatar and still learned that mass-market sports spend does not immunize an exchange from cycle pain; Kraken's edge has to be converting 6B-fan awareness into funded accounts. The harder execution problem is product routing: U.S., Canadian, Mexican and European fans sit under different rules for staking, derivatives and tokenized equities, while FIFA has already carved out an official prediction-market slot for ADI Predictstreet.

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