Flutter makes markets on rival prediction exchanges as FanDuel CEO exits
Flutter Entertainment CEO Peter Jackson disclosed during a recent earnings call that the company is earning money from prediction markets by acting as a market maker, though he provided no details on which platforms receive its liquidity or the scale of the operation. The revelation comes as FanDuel, Flutter's U.S. sportsbook subsidiary, fired its CEO amid competitive pressure from prediction markets, which Reddit sources attributed to lighter regulation limiting the sportsbook's ability to respond. No timing, successor, or official rationale for the CEO departure was disclosed. Separately, a new report flagged issues with Polymarket's U.S. launch, and Elastics raised $2 million to build AI agents for prediction markets.
Forces Flutter to reconcile its FanDuel unit's lobbying against lighter prediction-market regulation with its own market-making profits on those same platforms, creating a conflict that could surface in the next earnings Q&A within three months.