Irish-American betting giant pivoting to New York listing amid tax/regulatory shifts
The 2026 World Cup has boosted betting activity across prediction markets and traditional sportsbooks. Analysts expect record wagers in the U.S. and rising interest in data providers and travel stocks as the tournament unfolds in North America.
Flutter Entertainment has delisted its London Stock Exchange shares to concentrate on the New York market, citing low trading activity, higher costs, and regulatory obligations. The company moved its primary listing to NYSE in 2024 and will complete the London exit on 3 August. The move reflects London’s shrinking role in global listings amid broader US-listing trends.
Kalshi has become the largest prediction market in the United States, processing billions in trading volume and attracting institutional investment as it aims to expand beyond individual bettors into hedge funds and brokerages.
Michael Burry has moved into regulated sports betting operators, saying regulation will force prediction markets to be taxed and integrated, as some rivals face scrutiny. He has bought stakes in Flutter Entertainment and DraftKings, arguing the sector exists in a regulatory loophole. Meanwhile, Kalshi disputes claims of disparities in retail user outcomes and growth.
A federal appeals court has ruled Nevada can regulate Kalshi’s sports-event contracts, contradicting a Third Circuit decision that Kalshi’s platform falls under federal pre-emption. The ruling deepens a circuit split on whether prediction markets are governed by state gambling laws or federal CFTC rules, and increases the likelihood of Supreme Court review.