Flutter Entertainment used its third-quarter earnings call to roll out FanDuel Predicts, its vehicle for competing in the event-contracts market that will launch in December.
According to Flutter CEO Peter Jackson, the product will be aimed at states in which online sports betting is not legal. In states where it is, Jackson said, prediction markets have had “negligible impact” in their attempt to offer sports wagers.
“Our investment will be meaningful,” Jackson said, calling event contracts “a hugely exciting opportunity for FanDuel, one we intend to seize.” As part of FanDuel’s pivot toward trading, it surrendered its Nevada gaming license.
