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Prediction markets shake up sports betting, rattling DraftKings and FanDuel (DKNG:NASDAQ)
Seeking Alphaยท 2025-10-04 18:14
Group 1 - Prediction markets are emerging as a significant competitor to online sportsbooks, impacting shares of DraftKings and FanDuel's parent company negatively [3] - Shares of DraftKings (NASDAQ:DKNG) and FanDuel's parent company have seen a sharp decline this week due to the rise of prediction markets [3] - Robinhood (NASDAQ:HOOD) and Kalshi have reported a surge in activity, indicating growing interest in prediction markets [3]