Flutter Entertainment CEO Peter Jackson highlighted the company’s strategic push into prediction markets during a fireside chat at G2E 2025, emphasising the opportunities for peer-to-peer betting products in the US.
The CEO also discussed Flutter’s recent partnership with CME Group, describing it as a way to combine expertise and reach US consumers with new types of leisure products.
“We are reasonably familiar with this space. We operate the Betfair Exchange — our peer-to-peer platform — in many markets.
“It has a lot of similar characteristics to the way we’re seeing prediction markets unfold here in the States,” Jackson said.
“We’re very excited about the opportunities that we’ve got in front of us, for a range of products we can bring to the market here in the US, leveraging our expertise and the capabilities of CME as well.”
Jackson pointed to Flutter’s existing experience with the Betfair Exchange as a key advantage.
“The Betfair Exchange definitely appeals to a subset of consumers, but it’s worth recognising there are some challenges. You can’t offer generosity through the Exchange — it’s very difficult technically because you’re not the principal,” he explained.
“Consumers love generosity. They’re in it for the entertainment and the excitement, so it’s worth recognising that.”
Addressing recent market moves, such as ICE’s $2bn investment into Polymarket and Kalshi’s introduction of a builder combo feature, Jackson remained measured but confident.
“There’s a lot of news flow in this space and I’m pretty sanguine about it. When I look at the sort of outcomes that are possible, I think we’re very well placed irrespective of which path we end up following.
“That’s thanks to our capabilities, partnerships, and brand reach here in the US. I’m excited about it, and I can see why others are wanting to get into the market.”
‘Looks suspiciously like sports betting’
On Kalshi’s builder combo, which resembles a Same Game Parlay, Jackson said: “Building Same Game Parlay products isn’t easy. Competitors are spending hundreds of millions trying to catch up with us, and we’re powering ahead, we’re not standing still.
“There’s complex pricing involved – positive and negative correlations, etc. I think it’s very difficult to deploy that through a prediction market.
“We’ll get some clarity on the regulator’s standpoint, but the combo feature looks suspiciously like sports betting to me.”
Jackson also reflected on consumer behaviour and product overlap between sports betting, financial markets, and other leisure activities. “For those of us who delve into Reddit and similar platforms, you can see what our consumers are saying and thinking.
“People are trying to figure out how they can get an edge and get ahead, and that’s part of the game for them,” he said.
“And whether you apply that to sports or some of the other leisure style products or the financial markets, you can see that there’s a very strong overlap between these things.”