Gambling stocks sag as prediction markets steal Super Bowl bets

The Super Bowl is supposed to be the highlight of the calendar for gambling companies. This year, though, a cloud has descended over the industry as the big game approached.  

The stock of Flutter Entertainment Plc, which runs one of the most popular US gambling apps, FanDuel, is on an eight week skid, the longest in 23 years. It’s main competitor, DraftKings, is trading around the lowest levels since 2023, and is down more than 60% from its all-time high five years ago.

The matchup between Seattle-New England ...