Prediction markets draw investor concern as sportsbook growth faces competition
Prediction markets have become a concern for investors in sports betting companies, the report said, citing declines in Flutter Entertainment and DraftKings shares. H2 Gambling Capital forecast regulated Super Bowl handle of $1.78bn, while estimates cited for prediction-market bets linked to the game reached $630m. BetMGM chief executive Adam Greenblatt said he could not identify an impact attributable to prediction markets.
Sportsbook operators and investors are assessing whether prediction markets are diverting betting activity from regulated apps.