While there isn't a previous thread in this sub that answers this question directly, several other answers do touch on it, such as:

/u/Upton_BJs's answer to the question: "Why did European Football never catch on in America?".

/u/DBHT14's answer to the question: "Why did soccer/football not become a major sport in the US until relatively recently?"

Legendarytubahero's answer to the question: "Why are Cuba, the DR, Puerto Rico (and some others) primarily baseball countries whereas most of Latin America is soccer focused?"

And my answer to the question "Why is the game of cricket, which is so popular throughout much of the rest of the old British Empire, largely unknown in the former American Colonies (i.e. the USA)?"

Put together, the answer to this question is basically that Association Football (soccer) was codified at the same time that other codes of football were developed, including the code that came to be American football, and that's the code that was popularized in the United States. In addition, baseball developed as a popular neighborhood and then professional sport even before the Football Association was created, and between those two sports of baseball and American football, soccer had an uphill battle to fight in order to gain an audience and professional-level participants. There were efforts to popularize and nationalize soccer in the U.S. through the 1920s, but due to disagreements between the governing professional and amateur bodies, professional soccer suffered and collapsed as the amateur organization became the one recognized by FIFA, and morphed into today's U.S. Soccer that fields the Olympic team and such. Professional soccer was then absent in the U.S. for several decades after the 1920s. Another effort at a professional soccer league came about in the 1960s, but collapsed by the 1980s due to money and expansion issues. The latest attempt, Major League Soccer, began in the 1990s, and has proved to be the most successful so far, but has still played fourth or fifth banana to baseball, football, basketball, and even hockey in many metropolitan cities.

As for soccer in Latin America, notably, not every country developed a soccer tradition in the early 20th Century. Several countries developed stronger baseball traditions, such as Cuba, Puerto Rico, the Dominican Republic, and Venezuela, but in others, soccer became more dominant. In addition, there are several countries elsewhere around the world where soccer took a backseat to other codes of football because the local populace popularized a different form of the game. So not only did it happen in the United States that soccer failed to gain traction in the shadow of baseball and American football, but Canada also had strong traditions of hockey, gridiron football, and baseball; Australia codified Australian football and also took to cricket and rugby; and New Zealand and South Africa both developed strong followings to rugby union, rugby league, and cricket in preference to soccer, at least for most of the 20th Century. In all those countries, soccer was much later to the popular landscape than it was in the UK, continental Europe, parts of South America and Africa, and it still largely plays second or third banana to other popular professional sports in many of those countries.

The popularity of soccer in the countries where it did become popular can probably mostly be attributed to aggressive efforts by FIFA to expand the game internationally in the early and mid-20th Century, and they were mostly successful in countries that didn't yet have well-established professional sports organizations. A parallel can be drawn to the international popularity of baseball: the American major leagues made efforts in the late 1800s and early 1900s to bring the game to Pacific countries, and this worked well in Japan, Korea, and Taiwan, but their efforts failed in Australia and New Zealand because cricket was already well-established there. But I'll leave it to someone else to address why soccer became so dominant in parts of Latin America; the answer is likely a bit different depending on which specific country you want to know about.