CME, FanDuel Venture Falters As Prediction Startups Race Ahead

CME Group Inc. and FanDuel are scaling back a joint effort to take on prediction market startups after failing to gain traction in a booming industry that has quickly come...

By Katherine Doherty and Christopher Palmeri · Bloomberg Markets

CME Group Inc. and FanDuel are scaling back a joint effort to take on prediction market startups after failing to gain traction in a booming industry that has quickly come to represent a threat to both Wall Street exchanges and traditional sportsbooks.