Goodfeathers

About Goodfeathers

Yet tax collection continues to plague the sector’s progress.

Last year, the DRC’s Minister of Finance Doudou Fwamba estimated iGaming operators generated around $1.7 billion in annual revenue, yet contributed approximately $1 million in taxes.

A CEO of a prominent operator in the DRC last year told iGB the tax system largely operates on a declaration basis of how much operators report to the government.

How to play Goodfeathers

“By bringing together official data, live streaming, league IP, integrity services and the reach of our Legend media network, we are helping Polymarket deliver a differentiated and trusted experience for sports fans across the US.” 

Genius signed deals with both Polymarket and Kalshi in August, to provide real-time event data and league integrity services, as well as streaming services. Fellow data provider Sportradar also announced similar multi-year partnerships with both Kalshi and Polymarket in June. 

Initial reaction from investors was largely unfavourable. Genius shares plunged 13% on 18 Sept., falling 17% for the week. The data provider closed the session at $5.64 per share, well below the $6.19 price when it announced the Legend acquisition in February.

How to play Goodfeathers

Robinson calls prediction markets “the main event”. His argument is not simply that US customers are moving from sportsbooks to prediction markets. The more important point is that sportsbooks no longer have the relatively protected market that was once assumed.

Kalshi, Robinhood, Crypto.com and DraftKings’ own prediction-market operation are all competing for activity around sporting events. Beynon says prediction markets are having a larger effect on valuations than on fundamentals so far.

The existence of a new competitor does not automatically mean sportsbook revenue will collapse. But valuations do not require proof of collapse to fall. A loss of confidence in future growth can be enough.