Michael Burry, famous for predicting the 2008 housing crash, has bought shares in DraftKings and Flutter Entertainment. He believes regulators will eventually crack down on prediction markets, benefiting these established sports-betting operators.
Dane Miller is suing DraftKings in Chicago federal court, alleging the online sportsbook ignored his gambling addiction signs and accelerated it with VIP perks, leading to him losing his wedding fund, job, and experiencing suicidal ideation. He is now in recovery.
Dane Miller is suing DraftKings in Chicago federal court, alleging the online sportsbook ignored his gambling addiction signs, draining his wedding fund and 401(k), causing job loss, and suicidal ideation. He seeks damages, claiming DraftKings' product is defective and exploits users.
DraftKings reported rapid growth in its prediction markets business, with annualized consumer volume reaching $1.3 billion and total volume $3.1 billion in May 2026. However, established platforms like Kalshi and Polymarket process significantly higher volumes, highlighting DraftKings' late entry into a mature market. The sector's legal status as derivatives overseen by the CFTC is a key point of contention.
