REG - FlutterEntertainment - Total Voting Rights

By Bill Alpert

Commodity Futures Trading Commission Chairman Michael Selig promised on Thursday that his agency would clarify its stance on how sports-related bets on the prediction market platforms Kalshi and Polymarket differ from the state-regulated gambles offered by DraftKings and Flutter's FanDuel.

Selig appeared jointly with U.S. Securities and Exchange Commission Chairman Paul Atkins in a presentation mostly aimed at showing that the agencies would harmonize their rules to promote cryptocurrency innovation and rationalize margin collateral requirements in securities markets.

But in his first speech as the head regulator of futures markets, Selig said that the CFTC would rectify the confusion left by its failure to issue clear rules for prediction markets, which the agency calls event contracts.

Kalshi and Polymarket didn't immediately respond to a request for comment. Polymarket has a data partnership with Dow Jones, the publisher of Barron's.

Online contracts on sports events have become big business for predictions markets. The contracts clobbered the stocks of state-licensed bookmakers last year. Their continuing popularity threatens billions in state gambling tax revenue and make online sports wagers available in states such as California and Texas, where they are still banned.

A Barron's article reported that these conflicts were exacerbated under the regime of Selig's predecessor, Acting Chair Caroline Pham, by the CFTC's refusal to issue rules on sports event contracts, or to intervene in lawsuits.

"That uncertainty hasn't served our markets well, nor has it served the public interest," said Selig on Thursday. "It is time for clear rules and a clear understanding that the CFTC supports lawful innovation in these markets."

State and tribal regulators have filed dozens of lawsuits in federal district and circuit courts, alleging that Kalshi and Polymarket violate state gambling laws, as well as the CFTC's own rules and governing laws — which forbid financial contracts or swaps that refer to "gaming."

In court, Kalshi has said its sports offerings are financial swaps that are subject to the CFTC's sole jurisdiction. On its website, Polymarket describes itself as "a prediction market platform, not a gambling site."

Selig on Thursday laid out a program in which the agency would rescind its previous advisories on sports-related event contracts and then propose new rules for public comment.

"For too long, the CFTC's existing framework has proven difficult to apply and has failed our market participants," Selig said.

He also said the CFTC would consider intervening in some of the court disputes." Where jurisdictional questions are at issue," said Selig, "the Commission has the expertise and responsibility to defend its exclusive jurisdiction over commodity derivatives."

Write to Bill Alpert at william.alpert@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

IE00BWT6H894

Issuer Name

Flutter Entertainment Public Limited Company

UK or Non-UK Issuer

Non-UK

2. Reason for Notification

Other

Comments

Legal Entity level crossing - See Section 9.

3. Details of person subject to the notification obligation

Name

Bank of America Corporation

City of registered office (if applicable)

Country of registered office (if applicable)

US

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

City of registered office (if applicable)

Country of registered office (if applicable)

5. Date on which the threshold was crossed or reached

26-Jan-2026

6. Date on which Issuer notified

27-Jan-2026

7. Total positions of person(s) subject to the notification obligation

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

12. Date of Completion

27-Jan-2026

13. Place Of Completion

United Kingdom

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.  END  HOLUWURRNSUAUAR

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

IE00BWT6H894

Issuer Name

Flutter Entertainment Public Limited Company

UK or Non-UK Issuer

Non-UK

2. Reason for Notification

An acquisition or disposal of financial instruments

3. Details of person subject to the notification obligation

Name

Bank of America Corporation

City of registered office (if applicable)

Country of registered office (if applicable)

US

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

City of registered office (if applicable)

Country of registered office (if applicable)

5. Date on which the threshold was crossed or reached

23-Jan-2026

6. Date on which Issuer notified

26-Jan-2026

7. Total positions of person(s) subject to the notification obligation

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

12. Date of Completion

26-Jan-2026

13. Place Of Completion

United Kingdom

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.  END  HOLUBSURNRUAUAR

The FTSE 100 was down 0.07% at 10,143.44, while the more domestically-focused FTSE 250 slipped 0.23% to 23,317.53.

As AJ Bell’s Dan Coatsworth put it, “it’s a calmer end to a chaotic week on the markets,” noting that after recent swings “it’s only natural for people to pause and take stock of events.”

The bid for safety remained evident in precious metals, with gold continuing to attract inflows despite easing immediate market stress.

Coatsworth said the metal had “nudged ahead to trade ever closer to $5,000 an ounce as investors were reluctant to let go of their safety blanket, just in case Donald Trump woke up with another controversial idea.”

That caution helped temper equity gains even as broader risk sentiment stabilised.

UK economic data helps underpin sentiment

Sentiment was underpinned by a raft of upbeat UK economic data.

The S&P Global flash UK PMI composite output index rose to 53.9 in January from 51.4 in December, its strongest reading since April 2024 and the ninth consecutive month above the 50 mark that separates expansion from contraction.

Services activity climbed to a 21-month high of 54.3, while manufacturing output also strengthened, with the PMI rising to 51.6.

Chris Williamson at S&P Global said businesses had “kicked up a gear” at the start of the year, pointing to resilient demand and optimism consistent with quarterly GDP growth approaching 0.4%, though he cautioned that job losses persisted as firms grappled with high costs.

PwC economist Jake Finney said the data suggested the economy had begun 2026 on a firmer footing, but warned that persistent cost pressures, particularly in services, could keep the Bank of England on hold in February.

Official figures also showed UK retail sales beat expectations in December, with volumes rising 0.4% against forecasts for a decline.

Patrick Munnelly at TickMill noted that “interpreting signals from this often-volatile series is no straightforward task,” highlighting that while sales volumes rose 2.1% on a three-month annual basis in the fourth quarter, they still fell 0.3% quarter-on-quarter.

“The reality likely lies somewhere in between,” he said, pointing to favourable weather and sporting events supporting food sales earlier in the year, while seasonal shifts such as Black Friday may have distorted more recent data.

The Office for National Statistics said strong demand for precious metals and higher supermarket sales helped offset weakness in non-food stores, with annual sales growth accelerating to 1.3%, though volumes remained below pre-pandemic levels.

ONS statistician Hannah Finselbach highlighted strong online jewellery sales driven by demand for gold and silver, while AJ Bell’s Danni Hewson said the headline increase masked a difficult Christmas for many high-street retailers amid cautious consumer spending.

Consumer confidence, however, remained subdued.

GfK’s long-running index edged up one point to -16 in January, marking a decade in negative territory.

Munnelly observed that while the headline move was modest, “perceptions of personal financial situations improved more significantly than the headline figure suggests,” even as households remained wary about the broader economic outlook.

GfK’s Neil Bellamy said consumers were showing resilience rather than optimism, focusing on what they could control while remaining unconvinced about the wider economy.

Broader global signals were meanwhile mixed.

Asian markets advanced as the dollar continued to weaken, with investors increasingly rotating into non-US assets.

Munnelly said “precious metals also soared to unprecedented levels,” with a weaker dollar helping push gold to an all-time high of over $4,965 an ounce.

In Japan, stocks rose and the yen softened after the Bank of Japan kept its policy rate unchanged at 0.75% while upgrading growth and inflation forecasts, a move that also weighed on bond futures.

Munnelly noted that signs were emerging that “investors are increasingly pulling away from US assets,” with record flows into emerging-market funds adding further pressure to the dollar.

BAE Systems higher, SSP Group reverses gains

On London’s equity markets, defence stocks were in focus, with BAE Systems trading higher as investors continued to favour names that have performed strongly over the past year.

Coatsworth said the FTSE 100 had been supported as investors “loaded up on three names that have served them well over the past year - Rolls-Royce, Endeavour Mining and BAE Systems.”

Shell rallied after a Reuters report said the oil major was considering a sale of its assets in Argentina’s Vaca Muerta shale play.

Watches of Switzerland was higher after it said late on Thursday that it had bought Texas-based Deutsch & Deutsch, a family-owned luxury watch and jewellery retailer that had been operating since the 1920s.

SSP Group reversed earlier gains despite backing full-year guidance and reporting a 5% rise in first-quarter like-for-like sales.

Babcock International edged lower after confirming chief executive David Lockwood will retire at the end of 2026, a move Coatsworth said might allow Lockwood “half a smile” given the shares had risen more than fivefold since he took the role in 2020.

C&C Group tumbled after warning on profits amid weak consumer confidence, with Coatsworth describing it as “a tough time to be running” the drinks group as profit warnings returned, while Rank Group slid after Deutsche Bank downgraded the stock to ‘hold’ and cut its price target sharply.

Reporting by Josh White for Sharecast.com.

Market Movers

FTSE 100 10,143.44 -0.07%

FTSE 250 23,317.53 -0.23%

techMARK 5,933.79 0.76%

FTSE 100 - Risers

Beazley 1,152.00p 3.23%

Glencore 501.00p 2.21%

BAE Systems (BA.) 2,027.00p 2.12%

Fresnillo 4,168.00p 2.06%

Antofagasta 3,584.00p 1.91%

BP (BP.) 443.65p 1.57%

Rio Tinto 6,576.00p 1.39%

Centrica 184.10p 1.35%

Anglo American 3,378.00p 1.08%

Unilever 4,864.00p 1.00%

FTSE 100 - Fallers

Burberry Group 1,195.50p -6.20%

Admiral Group 2,650.00p -5.76%

Aviva (AV.) 619.40p -5.17%

easyJet 483.00p -2.98%

International Consolidated Airlines Group SA (CDI) 418.30p -2.79%

Spirax Group 7,200.00p -2.78%

Flutter Entertainment (DI) 12,990.00p -2.70%

Smurfit Westrock (DI) 3,054.00p -2.65%

Informa 913.80p -2.54%

JD Sports Fashion (JD.) 82.64p -2.34%

FTSE 250 - Risers

Me Group International 139.40p 4.65%

Hochschild Mining 702.00p 3.69%

Watches of Switzerland Group 534.00p 2.99%

Ceres Power Holdings 347.20p 2.72%

NCC Group 138.80p 2.67%

Harbour Energy 211.80p 2.62%

Foresight Environmental Infrastructure Limited 71.90p 2.28%

Endeavour Mining 4,366.00p 2.15%

Oxford Biomedica 871.00p 2.11%

CMC Markets 329.00p 2.02%

FTSE 250 - Fallers

C&C Group (CDI) 114.40p -11.04%

B&M European Value Retail S.A. (DI) 161.60p -7.18%

Wizz Air Holdings 1,318.00p -4.77%

Rank Group 93.80p -4.67%

Hays 46.60p -3.40%

Ocado Group 246.40p -3.22%

Close Brothers Group 518.00p -2.91%

Aston Martin Lagonda Global Holdings 62.00p -2.13%

Frasers Group 681.50p -2.01%

Carnival 2,097.00p -2.01%