# FanDuel **FanDuel** is one of the two dominant U.S. online sportsbooks, alongside [[DraftKings]]. It is owned by **Flutter Entertainment**, the Dublin-based gambling group. Like DraftKings, it grew out of daily fantasy sports and scaled after *[[Murphy v. NCAA]]* (2018) let states legalize sports betting. In late 2025 it did something a licensed sportsbook had never done: it walked away from a state gaming license to sell federally regulated event contracts instead. ## Choosing the CFTC over Nevada - **November 2025.** FanDuel and DraftKings both quit the [[American Gaming Association]], the casino and sportsbook trade group, and withdrew their Nevada licensing. Nevada Gaming Control Board chairman Mike Dreitzer said the board had been told that "Flutter Entertainment/FanDuel and DraftKings intend to engage in unlawful activities related to sports event contracts," and that this was "incompatible with their ability to participate in Nevada's gaming industry." He added that wagering "occurs whether the contract is listed on an exchange regulated by the Commodity Futures Trading Commission or elsewhere." FanDuel's statement: its view of the opportunity "outside of regulated states" was "in direct opposition to Nevada's priorities." - **December 22, 2025.** FanDuel launched **FanDuel Predicts** with [[CME Group]] in Alabama, Alaska, South Carolina, North Dakota and South Dakota. Financial contracts (stock indexes, oil, gold, crypto, GDP, CPI) were to roll out nationwide. Sports contracts were offered only in states **without** legal online sports betting. The design is the tell. FanDuel sells sports bets through its licensed sportsbook where states allow it, and through CFTC-registered event contracts where they don't. The same game, priced by the same company, is a regulated wager in New Jersey and a federal derivative in Alabama. ## Political money Reuters reported in August 2026 that FanDuel, DraftKings, Fanatics and [[bet365]] had given more than **$72 million** in the 2026 cycle (FanDuel's share: **$27 million**, second to DraftKings' $34 million, all through the [[Win for America]] super PAC), mostly through two affiliate PACs ([[American Conservative Fund]] and [[American Future]]) into state races, where gambling taxes and licensing are decided. See [[Sports Betting]]. ## See also - [[DraftKings]] · [[Fanatics]] · [[bet365]] · [[CME Group]] · [[Kalshi]] · [[Polymarket]] - [[American Gaming Association]] · [[Sports Betting Alliance]] - [[Sports Betting]] · [[Problem Gambling]] · [[Prediction Markets and Gambling Sector]]