FanDuel Announces Layoffs as Growth Slows and Competition Rises

FanDuel has cut several hundred jobs across operations, engineering, customer support and marketing, describing the move as part of a long‑term strategic refinement amid a slowdown in U.S. sports‑betting growth and rising competition from prediction‑market platforms. The layoffs follow recent leadership changes and come shortly after a high‑profile NBA Finals promotional event.

Separately, FanDuel launched a "FanDuel Predicts" promotion offering new users a $50 bonus for trading on its prediction‑market app. The offer, available in all 50 states (with market restrictions in some), requires no promo code and expires seven days after receipt; the bonus is non‑withdrawable. The promotion highlights the company's push into prediction markets covering sports, crypto, commodities and financial events.

Analysts note that the combined pressure from slower sportsbook margins and the emergence of efficient prediction‑market platforms is prompting operators like FanDuel to trim staff while expanding new product lines.