Betting on Regulation: Michael Burry's Contrarian Play on Sportsbooks Michael Burry, the investor known for his prescient call on the 2008 housing market collapse, has invested significantly in two regulated sports betting operators: DraftKings and Flutter Entertainment.
His bet is that regulators will eventually bring prediction markets under control.
The Commodity Futures Trading Commission (CFTC) has taken a firm stance against unregulated prediction markets operating outside state gaming laws.