A Ninth Circuit Court of Appeals ruling on prediction markets provided clarity, executives of Flutter Entertainment said, but event contracts “being completely switched off would likely be the best outcome,” according to J.P. Morgan analyst Daniel Politzer.
The Morgan analyst met with Flutter Chief Financial Officer Rob Coldrake and Director of Investor Relations Sophie Nottage in London this week. His findings were published on September 24.
Politzer found the overall tone of the meeting “constructive” and said that near-term confusion on the legality of prediction markets was the worst-case scenario facing Flutter. He added that subsidiary FanDuel was recapturing US handle share and increasing its number of active players.
