It is also possible that after Judas hanged himself the rope broke and he fell onto rocks that disemboweled him postmortem. Matthew’s emphasis then would have been Judas’s actions in taking his own life, while Peter’s emphasis was on what happened to him after his suicide.
We don’t need to suppose that the rope broke.
Judas hanged himself at the beginning of Passover. If any Jew had taken his body down, he would have been ritually unclean and unable to celebrate the Passover. So his body hung there for the length of at least several days. The body began to decompose, give off gasses, lose its integrity, and then burst open. And so his internal organs poured out.
[Matthew]
{27:5} And throwing down the pieces of silver in the temple, he departed. And going out, he hanged himself with a snare.
{27:6} But the leaders of the priests, having taken up the pieces of silver, said, “It is not lawful to put them into the temple offerings, because it is the price of blood.”
{27:7} Then, having taken counsel, they bought the potter’s field with it, as a burying place for sojourners.
{27:8} For this reason, that field is called Haceldama, that is, ‘The Field of Blood,’ even to this very day.
[Acts]
{1:16} “Noble brothers, the Scripture must be fulfilled, which the Holy Spirit predicted by the mouth of David about Judas, who was the leader of those who apprehended Jesus.
{1:17} He had been numbered among us, and he was chosen by lot for this ministry.
{1:18} And this man certainly possessed an estate from the wages of iniquity, and so, having been hanged, he burst open in the middle and all his internal organs poured out.
{1:19} And this became known to all the inhabitants of Jerusalem, so that this field was called in their language, Akeldama, that is, ‘Field of Blood.’