Jefferies notes that the NY Times has reported that Meta (META) will launch a prediction market app, named Arena, that will operate separately from Meta's social networking apps and not initially offer real money wagering. While the analyst says investors will likely perceive Meta entering prediction markets as increased competition and therefore a negative for Flutter Entertainment (FLUT), Jefferies contends its "not that straightforward." The firm has a Buy rating and $210 price target on Flutter shares.
