Flutter posts FanDuel Predicts growth but slashes 2026 guidance as losses deepen
Flutter Entertainment reported earnings below expectations on November 4, 2026, and cut its 2026 revenue guidance to $17.61 billion. Average monthly players on FanDuel Predicts rose 39% quarter-over-quarter, and the product reached 140,000 active users in October. CEO Taylor called prediction markets a 'very meaningful incremental opportunity' and said FanDuel Predicts is 'genuinely competitive.' Flutter maintained its $50 million prediction market revenue target and $40 million adjusted EBITDA forecast for market-making. The company also outlined $500 million in cost savings by 2029. Flutter swung to a loss on an $873 million Brazil impairment.
Flutter's guidance cut exposes the tension in sportsbook ambitions for prediction markets. FanDuel Predicts grew users 39% and hit 140,000 actives, yet Flutter is now deciding how much to spend on the vertical. That hesitation matters because DraftKings and Kalshi are spending aggressively while the CFTC proposes rules that could force costly product redesigns.
Flutter's $50 million revenue target is modest next to the infrastructure bets rivals are making. Taylor slows investment to protect the 2029 cost savings plan, FanDuel Predicts risks falling behind on liquidity and product depth. The window for establishing share among regulated prediction markets is narrowing as federal rules and state court battles reshape the field.