Copyright Bloomberg
FanDuel, the US online gambling division of Flutter Entertainment Plc, is launching its own prediction market product, which will allow it to open up in states where traditional sports betting is illegal and deal with competitive pressure from new startup exchanges in the space. The company plans to introduce a new mobile app in December, FanDuel Predicts, where users can bet on the outcome of sports and economic indicators, the company announced on Wednesday at the same time that it released quarterly financial results that fell short of analysts’ expectations.
