BUZZ-Flutter falls as brokerage flags growing threat from prediction markets

DraftKings

DKNG

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** Shares of sports-betting company Flutter Entertainment FLUT.N fall 2.6% to $103.73

** BofA Global Research says rising prediction-market volume and user overlap could weigh on H2 organic online sports-betting growth

** Prediction-market consumer volume reached about $10 bln in June, equal to ~85% of online sports-betting handle - brokerage

** BofA says percentage of DraftKings DKNG.O users also using prediction-market platform Kalshi rose to 9.5% in June from 4% in January

** Flutter is scheduled to report second-quarter results on Aug 5

** Including session moves, stock has fallen ~52% this year

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