Investor Michael Burry said he had opened long positions in DraftKings and Flutter Entertainment. He initiated his DraftKings stake in the low $26 range and argued that prediction-market regulation could eventually tighten, while the operators could retreat to their core businesses if rules change.
Burry’s disclosed positions and comments frame prediction-market regulation as a factor for investors in listed betting operators.
Quarter ended 30 September 2026
Quarter ended 30 September 2026
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Sportradar reported that US revenue rose 47% year on year to €98m in Q3 2026, which the company attributed partly to growing demand from prediction-market businesses. Chief executive Carsten Koerl said the impact of states excluding markets was not material to the company, citing contract terms that restrict content use where those products cannot be offered.
U.S. revenue rose 47% to €98m ($109.7m) in Q3 2026, against Q3 2025. Growing work in the prediction markets industry fueled the 47% year-over-year increase in Sportradar’s U.S. revenue in Q3. CEO Carsten Koerl said he does not worry about more states excluding sports event contracts.
DraftKings launched its DraftKings Predictions app in December 2025 and introduced its DKeX contracts market on 26 June 2026, according to the report. The company developed DKeX using technology and authorisations obtained through its acquisition of Railbird Technologies; the report also says a US professional basketball league expanded its agreement with DraftKings on 26 October to cover prediction markets.
DraftKings is developing its own event-contracts platform and expanding its presence in prediction markets, where it competes with platforms including Polymarket and Kalshi. The Boston-based company, listed on Nasdaq, operates through the independent group DraftKings Inc., which also owns Golden Nugget Online Gaming, acquired in 2022, and the digital lottery platform Jackpocket. Golden Nugget Online Gaming forms part of the group's online casino business, while the physical Golden Nugget casinos were excluded from that acquisition.
Kalshi and the Philadelphia 76ers agreed a multiyear partnership, making the team the first NBA franchise to name a prediction market partner. The deal includes arena advertising and placements across the team’s app, ticketing platform and other digital channels; financial terms were not disclosed.
The NBA announced agreements with Kalshi and Polymarket to establish safeguards for NBA-related prediction markets in the United States. The league also signed a memorandum of understanding with the CFTC and expanded its DraftKings agreement to cover prediction markets and nationwide promotion; the arrangements exclude the WNBA.
The National Basketball Association unveiled a set of agreements on Monday aimed at creating a broad framework for prediction markets tied to its games. That framework includes a memorandum of understanding with the Commodity Futures Trading Commission. Kalshi and Polymarket were named by the league as its preferred exchanges for such markets. The WNBA is not covered by the arrangement.
DraftKings chief executive Jason Robins said the company’s exchange ranked third by trading value for the week ended Oct. 18. Aldrin Research data cited in the report put its volume at $1.04 billion and market share at 3.57%.