FanDuel, DraftKings Leave Nevada Over Predictions Markets Bets

Flutter Entertainment Plc, parent of the FanDuel sports-betting app, has surrendered its license to operate in Nevada, according to the state’s Gaming Control Board.

DraftKings Inc., another major online betting operator, has agreed to withdraw all pending applications for sports wagering in the state, the regulator said in a statement Wednesday.

FanDuel and DraftKings both plan to launch new sports-betting products based on prediction markets. Such markets aren’t regulated and taxed by the states like other types of gambling.

“It has been made clear to the board that Flutter Entertainment/FanDuel and DraftKings intend to engage in unlawful activities ...