Morocco just did something no African nation has ever done: reach the World Cup quarterfinals in back-to-back tournaments. Their 3-0 demolition of co-hosts Canada on July 5 wasn’t just a statement win for the Atlas Lions. It was a catalyst for a notable spike in crypto prediction market activity and fan token trading.

The quarterfinal matchup against France, scheduled for July 9, is a rematch of the 2022 semifinal that ended Morocco’s fairy-tale run in Qatar. This time, the stakes are arguably higher, and the crypto markets are paying very close attention.

Prediction markets are already pricing the rematch

On Polymarket, the decentralized prediction platform, trading volume for the France vs. Morocco outcome has surpassed $768K. France currently sits at a 61.5% implied probability of advancing, according to Polymarket’s odds. Morocco, the underdog on paper, is getting roughly 38.5% of the market’s confidence.

Fan tokens and the Chiliz effect