Michael Burry disclosed long positions in Flutter Entertainment and DraftKings, betting that regulatory crackdowns on prediction markets will benefit

The investor believes regulators will eventually crack down on prediction markets after competition from the upstarts pressured the stocks of sportsbooks.

July 8 : Michael Burry, the investor famed for predicting and profiting from the 2008 U.S. housing market collapse, has bought shares of sports-betting platforms Flutter…

Michael Burry goes long sports betting through DraftKings and Flutter Entertainment, while cautioning against prediction markets.

Michael Burry disclosed long positions in Flutter Entertainment and DraftKings, betting that regulatory crackdowns on prediction markets will benefit