Elite squads from Spain and France, the co-favorites, enter with strong recent form, deep midfield options, and mostly intact lineups following their Euro 2024 campaigns, supporting the 75.5% implied probability for an unbeaten champion. The expanded 48-team format requires the winner to navigate up to eight matches, including a new round of 32, yet favorable group-stage draws and superior squad depth reduce the likelihood of early setbacks for top contenders like England, Portugal, and Argentina. Early tournament results, including convincing wins by hosts Mexico and the United States, have reinforced perceptions that favorites will control proceedings through the group stage and knockout rounds. Scattered injuries across the field, such as concerns around key personnel for Brazil and the Netherlands, have not materially shifted the market's assessment of overall talent concentration.