Michael Burry buys DraftKings and Flutter shares

Michael Burry, known for predicting the 2008 housing crash, said he has taken positions in DraftKings and Flutter Entertainment, two regulated sportsbetting companies. Burry said he split the investment roughly 60% into Flutter and 40% into DraftKings, and that he bought the shares at about $107 for Flutter and in the low $26 range for DraftKings. He argued that prediction markets face growing regulatory pressure and could eventually be brought under heavier taxation and oversight, which he believes could support the traditional sportsbooks he chose. The companies have also been exploring their own predictionmarket products as the industry changes.