Jefferies believes that the 10.3% slide in shares of Flutter Entertainment is "an overreaction" amid widespread investor worries over risks to the FanDuel operator, as well as its peer DraftKings, ...

Investors seem to view Kalshi and its ilk as genuine competition for DraftKings and FanDuel. DraftKings and Flutter were each off 11% Tuesday. Both stocks were on track for their worst day since 2022 ...