Thirteen matches are set to take place in Toronto and Vancouver during the June 11th - July 19th tournament, which Canada is hosting alongside the U.S. and Mexico.
"This funding will support provinces and municipalities in their efforts to ensure people remain safe while enjoying the tournament, and ensure law enforcement agencies have the resources they need to deliver a safe and well-managed event," Public Safety Minister Gary Anandasangaree said at a news conference in Toronto.
Toronto will see about $45 million of the money, while $100 million will be set aside for Vancouver.
The investment builds on the $220 million the federal government has already allocated to the Canadian host cities.
Ottawa previously allocated up to $320 million for hosting the tournament.