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Circa Sports CEO Calls Prediction Markets "Marauders" in Sports Betting

Derek Stevens, Circa Resort & Casino CEO, Circa Sports CEO joined Bloomberg's Balance of Power and discussed the climate of sports betting ahead of this weekend's Super Bowl. Just months ago, Kalshi Inc. lagged far behind FanDuel and DraftKings - the dominant players in US sports betting. Now, ahead of the Super Bowl, the crown jewel of the gambling calendar, the upstart prediction market has pulled far ahead, at least by one key metric: monthly app downloads.  In January, Kalshi was downloaded 3 million times, more than four times the tally for either DraftKings Inc. or FanDuel, a US unit of Flutter Entertainment Plc - and more than either of those companies even during their fastest periods of growth - according to the data firm Apptopia. FanDuel said it had 3.5 million active monthly users in its most recent earnings report. (Source: Bloomberg)