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Flutter says FanDuel Predicts has started more slowly than planned, but the company still believes it can win a meaningful share of the U.S. prediction markets business.
Speaking after weak second-quarter results, Flutter executives said FanDuel Predicts should be in a stronger competitive position by the end of 2026 after moving its sports and novelty event contracts from CME Group to Crypto.com. CFO Rob Coldrake said Flutter expects to generate about $50 million in revenue from its own market-making by year-end.
Flutter says platform changes should improve FanDuel Predicts
Coldrake said the rollout had been "slightly slower than we would have liked" and acknowledged operational challenges. He added that moving sports and novelty products to Crypto.com should leave FanDuel better positioned going forward.
Flutter is not yet committing to a larger long-term spending plan for prediction markets. Coldrake said the company will review FanDuel Predicts again at the end of the year before deciding how much more to invest heading into 2027.
The current competitive gap appears real. The source cites earlier EKG data suggesting Kalshi led the category, while Bloomberg reported in April that FanDuel Predicts was behind Kalshi, Polymarket, and PrizePicks in app downloads. An EKG spokesperson said FanDuel currently has a low single-digit share of prediction market activity.
Prediction markets remain a growth bet inside a weaker quarter
Flutter’s comments came alongside a softer quarter in the U.S. business. Q2 U.S. revenue fell 6% to $1.68 billion, while segment adjusted EBITDA dropped 70% to $119 million. FanDuel sportsbook revenue fell 15% to $1.04 billion.
Even so, Flutter said it will invest roughly $270 million of additional EBITDA into its U.S. business in the second half of the year. CEO Peter Jackson said the company sees prediction markets as incremental to its broader strategy: acquiring customers in states before sports betting regulation and making money through market-making.
Flutter also said FanDuel remains the top U.S. online sportsbook and casino brand by gross gaming revenue share, at 39% in sportsbook and 27% in casino. FanDuel Casino revenue grew 14% in Q2.
What players should watch next
For players, the key near-term question is whether FanDuel Predicts becomes more competitive in Q3 and Q4 after the Crypto.com shift. The other milestone is Flutter’s end-of-year review, which should shape how aggressively the company invests in prediction markets in 2027. As always, anyone using real-money gaming products should set limits and gamble responsibly.
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Source: As reported by sbcamericas.com.
