Trader consensus around the 74.5% implied probability for an unbeaten champion stems from the squad depth and recent consistency of leading contenders France, Spain, and England. These teams enter the expanded 48-nation tournament with experienced cores, strong recent form in European competitions, and limited injury concerns that could disrupt continuity. Historical patterns show most World Cup winners, including multiple Brazil and Italy sides, completed their campaigns without defeats across group and knockout stages, a trend reinforced here by the favorites' ability to control matches through superior possession and defensive organization. While upsets remain possible in the round of 32 onward, the market views the top teams' path as likely to feature clean progressions with at most minor setbacks resolved before the final.