As the 2026 Winter Olympics enter the final weekend, the race for most gold medals intensifies. Norway maintains its lead with 17 golds, 9 silvers, and 10 bronzes for a total of 36 medals. The US has surged to second place with 9 golds, 12 silvers, and 6 bronzes, totaling 27 medals, leapfrogging host Italy.
On Thursday, Team USA celebrated major victories: the women’s hockey team claimed gold in a thrilling final against Canada, their first since 2018. Alysa Liu secured her second gold of the Games in women’s figure skating, ending a 20-year drought for American women in the event with a flawless free skate.
With 98 of 116 events completed, attention turns to the remaining competitions, including curling semifinals and other finals. Norway’s dominance in cold-weather sports continues, but USA’s momentum in ice events keeps the contest alive, though the gap remains significant.
Trade analysis
With 18 events left of 116, prices can still fluctuate with injuries or sentiment spikes. The edge is to stay focused on the remaining events as well as historical dominance.
Bullish (YES) signals for Norway:
- Sweeping cross-country, biathlon, and recent additions pushing to 17 golds
- Strong in remaining Nordic combined and ski jumping
Bullish (YES) signals for US:
- NHL boost yielding hockey gold, potential in remaining ice events
- Broad talent across snowboarding, alpine, and figure skating
At present, the odds for Norway are overwhelming. US’s Thursday surge caused minor dips, but Norway rebounded with Friday wins. A disciplined strategy is to fade hype-driven rallies, buying NO on underdogs during buzz peaks while holding YES on Norway post-key wins. Size conservatively as upsets loom, reassess after finals.