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Benzinga
Benzinga
Business
Chris Katje

DraftKings, Flutter Sell-Off 'Overdone': Analyst Says Prediction Markets Provide $5 Billion Opportunity

DraftKings Flutter FLUT Chad Beynon DKNG DraftKings Inc Flutter Entertainment Flutter Entertainment Plc Entertainment Macquarie
DraftKings.Draftkings.Flutter.Shutterstock

The rise of prediction markets has sent DraftKings Inc (NASDAQ:DKNG) and Flutter Entertainment PLC (NYSE:FLUT) shares lower. While some investors and analysts see prediction markets as a major competitor, an analyst said the selloff is overdone and both companies have a $5 billion opportunity of their own in the market.

The DKNG, FLUT Analyst: Macquarie analyst Chad Beynon maintained an Outperform rating on DraftKings with a price target of $48.

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