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Goldman Sachs

June 27, 2026

The World Cup and Economics

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This report provides updated FIFA World Cup 2026 predictions following the conclusion of various group stage matches. France, Spain, and Argentina lead the current model-implied probabilities for winning the tournament.

Key Takeaways

  • 1.France, Spain, and Argentina are the primary front runners for the World Cup, each with a winning probability slightly above 20%.
  • 2.Cape Verde set a record as the smallest country (population ~500,000) to advance from a World Cup group stage.

Table of Contents

  • The World Cup and Economics
  • Exhibit 1: Today's Games
  • Exhibit 2: Predicted Group Stage Results
  • Exhibit 3: The Predicted Group Standings
  • Exhibit 4: A Narrowing Gap at the Top, With France Slightly Ahead Now
  • Exhibit 5: Updated Probabilities of Advancement in the 2026 World Cup
  • Disclosure Appendix

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Authors

Jan HatziusGiovanni PierdomenicoSven Jari Stehn

Themes

Quantitative Model PerformanceWorld Cup 2026 Predictions

Regions

GlobalFranceCape VerdeIran