Shares of UK-listed gambling companies jumped on Monday after U.S. lawmakers introduced bipartisan legislation aimed at preventing prediction market platforms from offering contracts tied to sports betting, according to a report from the Wall Street Journal.
By 12:25 GMT, Flutter Entertainment (LSE:FLTR) — which owns the major U.S. sportsbook FanDuel — had surged 7.6%. Rival Entain (LSE:ENT), the London-listed operator behind Ladbrokes and the BetMGM joint venture, rose 6.4%.
The Wall Street Journal reported that Senators Adam Schiff and John Curtis are preparing legislation that would prohibit entities regulated by the Commodity Futures Trading Commission, including platforms such as Kalshi and Polymarket, from offering contracts linked to sporting events or casino-style games.
Kalshi has indicated that sports-related wagers account for roughly 90% of its trading activity. Because these platforms operate as federally regulated exchanges, they have been able to avoid state-level gambling licensing rules — an advantage that has pressured the share prices of traditional betting operators in both the U.S. and Europe in recent months.
Regulatory scrutiny is also increasing at the state level. Arizona has filed a 20-count criminal case against Kalshi, while authorities in 11 states have issued cease-and-desist orders targeting the platform.
Flutter’s FanDuel currently holds about 43% of the U.S. sports betting market, while Entain’s BetMGM joint venture generated $2.8 billion in revenue in 2025.
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