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FanDuel Predicts, DraftKings and rivals put prediction-market revenue in the spotlight

Quarterly earnings from major gambling and trading companies showed prediction markets becoming a bigger business line, with FanDuel Predicts changing exchanges and DraftKings reporting rapid volume growth.
Tyler Andrews Avatar
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Prediction markets took on a larger role in the latest quarterly reports from Flutter Entertainment, DraftKings, Coinbase and Robinhood, with each company pointing to stronger trading activity, customer engagement or revenue from the category.

Flutter said it will move FanDuel Predicts sports and novelty contracts from CME to Crypto.com, while CME will continue to provide financial-market contracts. CEO Peter Jackson said the new exchange arrangement is intended to help the company deliver products ahead of the NFL season.

DraftKings reported faster platform growth

DraftKings CEO Jason Robins said annualized total volume on the company’s predictions platform rose to $11 billion from $2.3 billion between April and July. The company said the platform, which launched in December 2025, has engaged more than 600,000 customers.

Robins also said DraftKings saw about 1% customer overlap between its sportsbook and the largest prediction-market operator in sportsbook states.

In its second-quarter results, DraftKings reported adjusted EBITDA of $114.6 million and revenue of $1.44 billion. Both figures came in below FactSet consensus estimates of $156.1 million in adjusted EBITDA and $1.51 billion in revenue.

Flutter, Coinbase and Robinhood detailed revenue contributions

Flutter reported second-quarter adjusted earnings of 49 cents per share on $4.33 billion in revenue, compared with FactSet consensus estimates of 54 cents per share and $4.23 billion in revenue. The company said it expects about $50 million in market-making revenue this year.

Coinbase said prediction-markets revenue increased 106% quarter over quarter, and that annualized revenue from the business exceeded $100 million in the second quarter.

Robinhood said more than 3.5 billion contracts had traded to date on Rothera, its CFTC-licensed exchange launched in June through a joint venture with Susquehanna International Group. Robinhood reported $156 million in second-quarter event-contract revenue.

For readers tracking U.S. gambling-adjacent markets, the latest filings show prediction products becoming a more visible revenue and engagement line for major operators and trading platforms, even as the companies report them in different ways.

Source: As reported by ozarab.media.

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Tyler contributes regularly to PlayFl.com, covering sports, sports law, and gambling for the Sunshine State. He has also covered similar topics for PlayTexas, PlayCA, PlayFlorida, PlayOhio, and PlayMA. Tyler’s current focus is Florida's pathway to sports betting legalization.

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