Flutter acknowledges slow FanDuel Predicts rollout as it chases Kalshi and Polymarket

August 12, 2026  ·  3 min read

Flutter Entertainment’s CFO has confirmed that FanDuel Predicts has lagged behind rivals in the prediction markets race, with the product rolling out slower than planned and current market share in the low single digits.

Speaking during an Oppenheimer fireside chat on Tuesday, CFO Rob Coldrake said Flutter will assess where the Predicts product stands by the end of 2026 before deciding how much more capital to commit heading into 2027. The comments came days after the company’s latest earnings call, where FanDuel Predicts featured prominently alongside discussion of outgoing CEO Peter Jackson’s departure and the sportsbook’s market performance.

“The product rollout has been slightly slower than we would have liked, and we’ve had some challenges along the way,” Coldrake acknowledged. He added that moving sports and novelty event contracts to Crypto.com, away from joint-venture partner CME Group, should position the company better going forward.

Flutter expects to generate approximately $50 million in revenue from its own market-making operations by the end of this year. Coldrake described the market-making progress as “very quick and profitable,” saying the company believes this is where the majority of economics will sit within the prediction market ecosystem long term.

FanDuel trails Kalshi and Polymarket in downloads

The scale of FanDuel’s challenge became clearer in April when Bloomberg reported that FanDuel Predicts was trending behind Kalshi, Polymarket, and PrizePicks in prediction category app downloads. Data from Eilers & Krejcik Gaming that same month showed Kalshi with a commanding lead over competitors.

An Eilers & Krejcik Gaming spokesperson told SBC Americas on Tuesday that the firm estimates FanDuel currently holds a low single-digit share of prediction market activity. However, the analytics company expects FanDuel and other sportsbook operators entering the space to increase their market share dramatically in the third and fourth quarters.

When asked how much market share Flutter is targeting, Jackson replied simply: “Large. More than we have now.” Coldrake said the company is confident its expertise in parlays (called “combos” in prediction markets) and core sportsbook knowledge can help it capture “meaningful” share, adding that “we’re scaling that business really rapidly.”

Making hay while the sun shines

Flutter executives reiterated that while prediction markets represent a revenue and growth opportunity, it will remain an incremental one. The company intends to capitalize on the current regulatory environment until a potential Supreme Court decision or other development changes the landscape for sports event contracts.

Jackson outlined two priorities for the business: acquiring customers in states ahead of sports betting regulation, and generating revenue through market-making. He noted the distinction between states with regulated online sports betting, where prediction markets face direct competition, and unregulated states where prediction markets have “a free run” with no competitor other than illegal bookmakers.

FanDuel launched its prediction app nationwide in January, entering the market later than rivals and adopting a cautious strategy that avoids sports wagers in states where it already offers betting. The company’s decision to review the product’s performance before committing additional capital reflects an incremental approach to a market that remains regulatory uncertain.

The CFO said Flutter has already seen “quite a significant increase” in volumes recently, and projected that “by the end of the year, our product proposition is going to be a lot more competitive.”