Robinhood, which has a partnership with Kalshi to offer wagers on everything from football games to political races and other everyday events, saw more than 2 billion prediction contracts trade in the third quarter alone. Traders rushed to dump shares of online betting operators, with DraftKings Inc. tumbling over 16%, its biggest weekly drop since late 2022, and rival Flutter Entertainment PLC, which operates FanDuel, sliding more than 8%.Read More
Sports-Betting Stocks Face Growing Threat From Prediction Rivals
By Peyton Forte
