The CEOs of Flutter and PENN Entertainment confirmed that the companies are considering launching prediction markets in the US market.
Flutter CEO Peter Jackson commented on the topic during the company’s Q1 earnings call, where reported revenue was lower than expected, and prediction markets could be a way to increase company profits in the future.
Flutter, who operate FanDuel in the US, also owns Betfair, a European betting exchange that allows users to trade predictions. In light of the expansion of companies such as Kalshi and Crypto.com into sports betting markets, CEO Peter Jackson said they could bring Betfair to the US.
“It’s worth reminding, we do operate the world’s largest sports betting exchange. We know this space well. The Betfair Exchange has for many years given us very good insights in terms of how this stuff can play out,” Jackson said.
He went on to add that prediction markets could “prime the pump” and offer an avenue into states that currently prohibit online sports betting apps.
“Clearly, in states that haven’t regulated, there’s a sort of prime the pump type of opportunity that is not that dissimilar to some of the DFS (daily fantasy sports) stuff, albeit it’s worth remembering that DFS is a really good precursor to the parlay product, whereas the prediction markets are quite limited. So look, we’re interested in the potential opportunity,” Jackson noted.
PENN Entertainment also expects to participate
Similarly, PENN Entertainment CEO Jay Snowden commented that the company would participate in prediction markets if the opportunity arises.
Speaking during PENN Entertainment’s Q1 earnings call, Snowden commented, “It’s not priority one for us, we’ve got a lot in front of us in terms of execution and delivering on guidance for the remainder of the year. But we’re staying close to it, and if it ends up as an opportunity for the industry, you can expect us to be participating.”
The company partnered with ESPN Bet to offer sports betting in the US, and the deal is up for review next year. On the future of the partnership, Snowden said, “I think it will probably be obvious not just to us, but obvious to others as well, to the path that makes the most sense. We’re staying focused, and our teams are staying focused, on working together to deliver a really great and differentiated experience.”
He remained optimistic for the rest of the year, stating, “We’re confident it will deliver solid results through football season and going into 2026 we have the opportunity to really show why we did this deal in the first place.”
Prediction markets the future of betting?
Kalshi is proud to advertise that they offer legal sports betting in all 50 states and have scored victories in court recently against state regulators. Under jurisdiction by the Commodity Futures Trading Commission (CFTC), the company argues that they are beyond the control of state regulators.
States and sports leagues, including the MLB and NBA, have raised concerns about the lack of oversight on prediction markets and urge the CFTC to step in. However, the CFTC this week withdrew its legal challenge over election betting on Kalshi, setting a precedent for the markets to continue spreading.
Crypto.com and Kalshi now offer single-match markets on NBA, MLB, NHL, and NFL, and sportsbooks are looking on with envy. Sites such as ESPN Bet and FanDuel are under the control of state regulators, must apply for licenses, and pay fees and taxes to legally operate.
Further legal approval could lead to sportsbooks creating their own prediction markets in a bid to maintain control of the gambling industry.
Adam is an experienced writer with years of experience in the gambling industry. He has worked as a content writer and editor for five years on sites such as Oddschecker, CoinTelegraph and Gambling Industry News, bringing excellent knowledge of the world of sports betting and online gambling. Adam focuses on emerging stories in the ever changing landscape of betting in the US. Read the latest on prediction markets, changing legislation, and sweepstakes.
