New York’s Move To Ban Sports Betting In Prediction Markets Like Kalshi Sends These Stocks Lower: What You Should Know
Posted On November 13, 2025
Shares of sports-focused firms declined in Wednesday’s after-hours session following a New York State bill seeking to ban sports-related prediction markets for residents.
Sports Stocks Feel The Pinch
Genius Sports, which provides services for sports leagues and betting partners, fell nearly 3% after-hours. Similarly, shares of companies involved in sports betting, including DraftKings and Flutter Entertainment, also came under pressure, declining by 0.79% and 4.26%, respectively.
| Stock | After-Hours Gains % +/- | Price (Recorded at Wednesday’s Close) |
| Genius Sports Ltd. (NYSE:GENI) | -2.91% | $10.30 |
| DraftKings Inc. (NASDAQ:DKNG) | -0.79% | $31.51 |
| Flutter Entertainment PLC (NYSE:FLUT) | -4.26% | $234.45 |
A Blow To Sports Betting?
The sell-offs could be linked to a recent New York State legislation that aims to prohibit sports-related and event-based betting on platforms like Kalshi.
The bill, also known as the ORACLE Act, proposes to ban several …
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