FanDuel parent Flutter Entertainment (NYSE:FLUT) has lost more than $30 billion in market value since August as prediction markets pioneered by Kalshi and Polymarket reshape the U.S. wagering landscape.The drawdown has wiped out more than half of Flutter’s market cap even as the company holds roughly 35% of the $17.5 billion U.S. online sports betting market, per researcher Eilers & Krejcik Gaming. Investors appear to be pricing in a future where event contracts cannibalize traditional sportsbook volume.How ...