CNBC
08 Jul 2026, 19:33 UTC · 3h ago
Michael Burry bets on sportsbooks DraftKings and Flutter, sees prediction markets curbed by regulation
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
CNBC
08 Jul 2026, 19:33 UTC · 3h ago
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
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Michael Burry has taken significant positions in regulated sports-betting operators Flutter Entertainment and DraftKings. — High-profile investment by a well-known contrarian investor often triggers momentum buying and signals a perceived bottom in beaten-down stocks.
+0.60Burry anticipates that prediction markets will eventually be subsumed into the same taxation and regulation as traditional sports betting. — A regulatory crackdown on prediction market loopholes would remove a competitive disadvantage for regulated operators like DraftKings and Flutter.
+0.40DraftKings and Flutter are exploring their own prediction-market offerings to capitalize on the trend regardless of regulatory outcomes. — Diversification into new product verticals provides these companies with optionality and growth potential beyond traditional sports betting.
+0.30Which stocks this story touches
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Michael Burry took a position in the company, citing it as an attractive business inflecting as an operating business.
Michael Burry purchased shares, describing it as a fundamentally very good operating business with terrific scale.
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