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DraftKings has submitted a new application to join the National Futures Association (NFA) – a key early step toward entering the world of prediction markets – while Underdog and PrizePicks have submitted applications of their own.
Shares of DraftKings Inc (NASDAQ:DKNG) and Flutter Entertainment (NYSE:FLUT) are trading lower Tuesday after Robinhood Markets Inc (NASDAQ:HOOD) announced the launch of pro and college football prediction markets.