Nebraska rejects betting as Flutter eyes Texas after midterms
Marketing costs climbed for Flutter’s FanDuel as prediction market rivals increased media spend.
The hit
Flutter put roughly $32m into a super PAC over the first nine months of 2026, according to Flutter’s third-quarter results. Nebraska voters separately rejected twin online sports betting ballot measures on Tuesday. Flutter chief executive Dan Taylor called the defeat disappointing but said Flutter still expects more states to legalise online sports betting or iGaming in the coming years.
Why it matters
Texas elected a Democratic governor on Tuesday, according to Covers, which could tee up another push for legal sports betting there in 2027 when the legislature returns. Citizens analysts said incoming lieutenant governor Vikki Goodwin has, “on the surface”, supported casino & betting expansion through voter referendums. The super PAC Covers says most likely received Flutter’s money, Win for America, spent in states such as Texas.
The record
| Marketing spend | Sales & marketing costs up 16% to $357m for the quarter |
|---|---|
| Prediction market loss | ~$200m adjusted EBITDA loss expected for 2026 from prediction markets |
What happens next
Flutter has not named which states it expects to legalise next, according to Taylor.
Sources: FanDuel Hopeful for Sports Betting Legalization Post-Midterms
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