Flutter Entertainment's CEO Peter Jackson is stepping down after eight years, with Dan Taylor set to take over in October. The move coincides with the gambling group's strategic investment in the US to counter competition in its Fan Duel sportsbook, particularly from emerging prediction markets like Polymarket and Kalshi. Jackson warned that increased spending on promotions and loyalty schemes would reduce near-term profits, leading to a $395mn revenue guidance cut.

Flutter, once a FTSE 100 member, shifted its primary listing to New York in 2024 following the 2018 Supreme Court ruling that legalized sports betting. Shares have fallen 53% in 2026 due to concerns about market saturation and competition. The company is prioritizing player growth amid declining engagement in 2025, marking a pivotal shift in its US strategy.