Core Insights - The company has launched a new product across 38 states, but its initial impact on the bottom line is uncertain as it is still in the early stages of rollout [1][2] Group 1: Market Strategy - The company has chosen not to offer its product in certain states due to perceived limited business opportunities and existing strong relationships with regulators [3] - The company believes that its current product sufficiently serves sports fans and does not require additional offerings in states with legal sports betting [3] Group 2: Competitive Landscape - The company does not view emerging competitors, such as prediction markets and platforms like Robinhood, as significant threats, asserting that its sports betting product is superior [5][8] - The company emphasizes that the best product will prevail in digital markets, and it plans to develop competitive offerings to maintain its market position [9]