Europe leads the 2026 FIFA World Cup market at 71.5% implied probability because multiple elite sides from the continent—Spain, France, and England—top current power rankings and betting odds, backed by strong recent qualifying campaigns and squad depth. South America sits at 21.5% primarily through Argentina, the defending champions, and Brazil, the only other realistic continental challengers. Teams from Africa, Asia, North America, and Oceania remain at single-digit or lower probabilities given limited recent form against top European or South American opposition and shallower talent pools at the highest level. The expanded 48-team format and North American hosting have not materially altered these continental imbalances in the final weeks before the June kickoff.