Flutter Entertainment (NYSE: FLUT), a dominant force in online sports betting, has been one of the market's hardest-hit stocks over recent months.
Overall, shares of the consumer discretionary company are down over 50% in 2026, and have fallen more than 60% from their 52-week high.
The most notable cause of Flutter’s decline is competition from prediction market platforms. This includes firms like Kalshi, which has a partnership with Robinhood Markets (NASDAQ: HOOD).