Prediction Markets Instead of Sports Betting: FanDuel's New U.S. Strategy

FanDuel, the subsidiary of Flutter Entertainment (NYSE: FLUT), has taken a significant strategic step with the launch of FanDuel Predicts and has officially entered the prediction markets. In cooperation with CME Group, the company offers so-called event contracts, allowing users to bet on yes/no events. These pertain not only to economic indicators and cryptocurrencies, but also to cultural events and, in particular, sports outcomes. The launch will initially take place in five U.S. states where traditional online sports betting is not yet legal:...