Gambling stocks rise after US senators propose ban on sports betting via prediction markets

Shares of gambling companies like DraftKings and Flutter rose Monday following the introduction of a bill by U.S. senators that aims to ban sports betting conducted through prediction markets. This legislative move targets a specific method of sports wagering, potentially impacting how these companies operate and generate revenue. Investors reacted positively, possibly anticipating clearer regulations or reduced competition from prediction market betting. The bill's progress and final impact on the gambling industry remain to be seen.