I believe the Yahoo's suite of fantasy sports apps is second only to DraftKings in terms of market size and DraftKings' market cap is $22b. No reason that couldn't be spun off as its own company and be worth a $5b itself with the right leadership.
I am guessing you are looking at daily fantasy sports and not fantasy sports in general. DraftKings and Fanduel do not have a 90% market share on the entire fantasy sports industry. I believe Yahoo still has the largest market share when it comes to traditional fantasy sports and has done a poor job translating that into success in DFS in which they are fighting for 3rd place. That is why I threw in the caveat "with the right leadership".
