Automatically translated version. May contain inaccuracies compared to the original.
DraftKings is investing more than $1 billion in prediction markets, and its shares fell nearly 30%.
🔹The American bookmaker plans to spend $650–700 million on the new direction in 2026 and another $250–350 million in 2027. Total investments could exceed $1 billion.
🔹After the earnings release on 6 November, DraftKings shares plunged nearly 30%, and the company’s market capitalization temporarily fell by about $3 billion.
🔹Because of spending on prediction markets, the company cut its adjusted EBITDA forecast for 2026 by $700–900 million to $175–275 million. At the same time, this year the new segment will generate minimal revenue, as most income will go to bonuses and user acquisition.
🔹CEO Jason Robins said he expects the investments to pay off even in the event of a future ban on sports contracts in the U.S.
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