Fidelity portfolio manager says prediction markets will not displace sportsbooks
Peter Belisle, manager of Fidelity Select Leisure Portfolio, said he expects prediction markets not to displace US sportsbooks in 2026 and beyond. The fund holds DraftKings and Flutter Entertainment shares; Belisle said pressure on less-established operators could reduce marketing spending and improve established companies' profitability.
The view bears on investor expectations for DraftKings and Flutter amid competition from prediction markets.