If Prediction Markets Win, Sportsbooks Will Have to Become Something Else
DraftKings and FanDuel are no longer choosing between defending the state-regulated sportsbook model and competing with prediction markets. They are building for both. If federally regulated sports event contracts survive, the biggest disruption may not be to the companies that run sportsbooks—but to the legal and economic architecture that made a sportsbook license so valuable in the first place.
