We put together a report on the prediction-market side of The International, Dota 2's world championship, which wrapped up in Shanghai last week. The tournament itself is the biggest event in competitive Dota, run annually since 2011, with this year's $3.3M prize pool split across the 16 teams that qualified. Team Spirit took the trophy. What the trade data from Polymarket and Kalshi showed is a different story: the markets tracking those matches paid out 61x more than the tournament itself did.
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