Kalshi launches same-game parlays as DraftKings and Flutter shares fall
Kalshi launched its build-your-own same-game parlay feature on Monday, recording 1,229 trades and $1,762 in fees on about $256,000 of contracts traded. DraftKings shares closed down 11.6% on Tuesday and Flutter shares fell 10.3%; the report said their combined market value declined by $7bn that day.
The launch offers investors and sportsbooks a new competitor in a betting product that contributes substantially to sportsbook revenue.