Michael Burry Invests in DraftKings (DKNG), Flutter (FLTR) Shares

Michael Burry purchased shares of DraftKings (DKNG) and Flutter Entertainment (FLTR), allocating roughly 60% to Flutter at about $107 per share and 40% to DraftKings in the low $26 range. Burry anticipates regulatory crackdowns on prediction markets, which he believes will pressure these stocks. DraftKings has fallen about 45% from its 52-week high, while Flutter is down 65% from its peak. This matters for investors as both companies are adapting to the evolving regulatory landscape, which could impact their future growth and profitability.