Michael Burry bets on sportsbooks DraftKings and Flutter, sees prediction markets curbed by regulation

The investor expects regulators to eventually crack down on prediction markets as competition from upstarts has pressured sportsbook stocks. While no specific action or timing is cited, the outlook implies regulatory headwinds for the sector.

Analysis

The investor expects regulators to eventually crack down on prediction markets as competition from upstarts has pressured sportsbook stocks. While no specific action or timing is cited, the outlook implies regulatory headwinds for the sector.