Bank of America Downgrades DraftKings and Flutter Stocks Amid Rising Sports Betting Challenges
Sports betting heavyweights DraftKings and Flutter Entertainment are staring down some real headaches. Bank of America just bumped both ratings to neutral, citing regulatory headaches, tax hikes, and cutthroat competition. It’s a rough mix for anyone running in the US market. Investors are jittery over shaky betting margins and unpredictable prediction markets. Still, the bank…