Several sports betting companies saw their stock take a downward turn Tuesday morning following a major announcement from a prediction market platform.
DraftKings Sportsbook dropped over 6% early in the day and was still down around 5% by the afternoon. Flutter, the global gaming company that owns FanDuel, saw its stock plummet 5% by Tuesday afternoon.
This comes days after last week’s 18% drop for DraftKings and 8% for Flutter. Those are the two biggest sports betting and iGaming operators in the U.S., with FanDuel being the top market-share operator.
Rush Street Interactive, which operates BetRivers and Caesars Entertainment, also experienced similar stock drops Tuesday.
