(https://www.cnbc.com/2026/07/08/michael-burry-bets-on-sportsbooks-draftkings-flutter.html) because he sees what the Street's missing: prediction markets are about to face regulatory pressure while established sportsbooks solidify moats. The market's been obsessed with upstart competition killing legacy gaming—but regulations always centralize winners, not distribute them. Burry's not chasing growth; he's buying regulatory consolidation.

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