Wall Street was Initially Skeptical of Prediction Markets
Dow Jones10-23 23:33
1132 ET - Wall Street was initially disinterested in prediction markets until they ultimately disrupted the traditional sportsbook sector dominated by DraftKings and Flutter Entertainment's FanDuel, Bank of America analyst Shaun Kelley says at the NEXTPredict summit in New York. They brought in a few advantages that could bypass obstacles that sportsbooks were facing: they could operate in all 50 states, and they could be used by anyone over the age of 18, giving them a broader demographic, Kelley says.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments