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.

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.

Discover Bijan Robinson’s 2025 fantasy football outlook with Atlanta, highlighting his elite rushing, pass-catching upside, and draft value.

Get the best NFL DFS picks, sleepers and player pool from Jimmie Kaylor for the preseason Week 2 games on Saturday