Daily Market Updates: Michael Burry says regulators could curb prediction markets

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Michael Burry says regulators could curb prediction markets

Burry said competition from prediction-market upstarts pressured sportsbook stocks including DraftKings and Flutter.

Reported · Written up by our desk · Emerging Markets

CNBC Finance reports that Michael Burry is betting on sportsbooks DraftKings and Flutter while arguing that regulators will eventually crack down on prediction markets.

The investor linked his prediction-market regulatory view to the competitive pressure that upstarts have already put on sportsbook stocks.

Sources

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

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

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

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Michael Burry says regulators could curb prediction markets

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