Michael Burry, the investor best known for profiting from the 2008 housing collapse, just placed a very different kind of bet. On July 8, he disclosed a full-sized long position in Flutter Entertainment and DraftKings, two of the biggest names in traditional sports betting.
His thesis is simple and characteristically contrarian: prediction markets like Polymarket and Kalshi are living on borrowed time. Once regulators catch up, the money flows back to the operators that already play by the rules.
The trade breakdown
Burry’s allocation isn’t subtle. Roughly 60% of the position sits in Flutter Entertainment, with shares picked up at around $107 each. The remaining 40% went into DraftKings at entry prices in the low $26 range.
Flutter owns FanDuel, which is about as close to a household name as sports betting gets in the US. DraftKings, meanwhile, has carved out its own massive share of the domestic market.
