Overview
- Burry disclosed in a Substack post Wednesday that he bought a full-sized position split roughly 60% in Flutter at about $107 a share and 40% in DraftKings in the low $26s.
- He argued prediction-market platforms that sell event contracts have undercut regulated sportsbooks by operating under CFTC oversight and avoiding state gambling taxes.
- Burry expects those platforms to be folded into regulation and taxation, a view that underpins his bet that Flutter and DraftKings will regain business as competition is curbed.
- Both companies have seen large share declines from recent peaks and have started exploring their own prediction-market offerings, which could help them if rules change.
- Burry also added JD.com to his holdings and said he expects shifts in regional tech enthusiasm to benefit Hong Kong and Chinese stocks as other markets cool.