FanDuel is launching its own prediction-market app in five states just days after its main rival,
FanDuel Predicts will allow users to bet on the outcome of sports, cultural events and financial indicators through a prediction markets exchange, supplementing the company’s current sports betting products.
Prediction markets have taken off in recent months by enabling federally regulated online betting in states that have not legalized online gambling.
The exchanges offer dollar-sized contracts with prices that represent the chance of an event happening, a more intuitive format than the moneylines used by traditional ...