FanDuel CEO Amy Howe has rejected claims that prediction markets are siphoning customers away from regulated sportsbooks during the recently concluded Super Bowl. One major prediction market saw trading volumes surge nearly 1,400% in the weeks leading up to the game, attracting growing regulatory scrutiny from state and federal officials.
Despite this explosive growth, Howe told CNBC Television that prediction markets and sports betting are fundamentally different products catering to different demographics. She noted that FanDuel is not concerned about meaningful revenue loss in states where sports betting is currently legal and operational.
Howe described prediction markets as being closer in structure to daily fantasy sports than a full-scale sportsbook experience.
