FanDuel and DraftKings Leave Nevada As Prediction Market Wars Continue : PMPMedia.io

By Arijit Roul - 17 Nov, 2025 More about the author

FanDuel and DraftKings left Nevada. The state regulator blocked their prediction market plans. Gaming law conflicts with sports contracts. Nevada Gaming Control Board (NGCB) took Flutter Entertainment’s licenses yesterday. The board approved DraftKings’ withdrawal request, too. Both companies planned unlawful sports event contracts. Flutter revealed FanDuel Predict launches next month. The company partners with CME. Each partner gets 50% of the revenue.

DraftKings bought Railbird recently. The CFTC-registered business helps launch sports contracts. DraftKings will start operations very soon. NGCB stated that companies cannot participate in Nevada gaming. The board protects Nevada citizens. The gaming industry must thrive properly. Operators face license risks in prediction markets. FanDuel operated only a retail sportsbook in Nevada. Other states might cost operators more.

Flutter Shows Confidence Despite Nevada Departure

Peter Jackson leads Flutter as CEO. He feels sad about surrendering the license. Nevada protected their interest while Flutter protected it. FanDuel Predict targets half the untapped market. The CEO sees opportunities in non-betting states. Online betting operations show a negligible impact currently. State regulators helped develop the launch strategy. Tribal authorities provided consultation, too. Each state receives a tailored approach without local regulation.

Prediction markets integrate players before the legalisation. Jackson mentioned the Betfair exchange experience. Flutter becomes a formidable competitor. Experience matters in this market. Truist Securities analysts commented on the Nevada exit. Management left one state with immaterial revenues. They believe no other OSB market exists. Management sees large TAM potential. OSB legalisation possibilities excite them. A sports prediction competition might prevent tax increases.