Prediction Markets Now Pose a Win-Win Scenario for Sportsbooks
Dow Jones10-24 00:05
1204 ET - Sportsbooks are poised to win out whether or not prediction markets are able to withstand legal challenges from state executive branches, Bank of America analysts Shaun Kelley and Julie Hoover say at the NEXTPredict summit in New York. If prediction markets stick around, the top two sportsbooks, DraftKings and Flutter Entertainment's FanDuel, can offer their own markets with a built-in user base, the analysts say. DraftKings is already the third biggest prediction market exchange, they say. And if prediction markets lose their challenges in court, that will rebuild the competitive mote that DraftKings and FanDuel previously enjoyed, the analysts say.
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