DraftKings Says Prediction Markets Aren't Cannibalizing

Dow Jones

08/07

1020 ET - DraftKings CEO Jason Robins says the platform's new prediction markets offering isn't eating into its existing sports-betting market share. DraftKings has rolled out prediction markets in several states where online sports betting isn't legal, such as California and Texas. That has opened up new markets where DraftKings wasn't previously able to operate sports betting, Robins says. In states where sports wagering was already legal, bettors are mostly sticking with their existing platforms rather than switching over to prediction markets, he says. Instead, the new business is bringing in more institutional investors, a customer cohort DraftKings hasn't historically attracted, Robins says.

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DraftKings has rolled out prediction markets in several states where online sports betting isn't legal, such as California and Texas. That has opened up new markets where DraftKings wasn't previously able to operate sports betting, Robins says. In states where sports wagering was already legal, bettors are mostly sticking with their existing platforms rather than switching over to prediction markets, he says. Instead, the new business is bringing in more institutional investors, a customer cohort DraftKings hasn't historically attracted, Robins says.</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DraftKings Says Prediction Markets Aren't Cannibalizing</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDraftKings Says Prediction Markets Aren't Cannibalizing\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-08-07 22:21</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>1020 ET - DraftKings CEO Jason Robins says the platform's new prediction markets offering isn't eating into its existing sports-betting market share. DraftKings has rolled out prediction markets in several states where online sports betting isn't legal, such as California and Texas. That has opened up new markets where DraftKings wasn't previously able to operate sports betting, Robins says. In states where sports wagering was already legal, bettors are mostly sticking with their existing platforms rather than switching over to prediction markets, he says. Instead, the new business is bringing in more institutional investors, a customer cohort DraftKings hasn't historically attracted, Robins says.</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ODDS","symbol_name":"Pacer BlueStar Digital Entertainment ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2657642644","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2657642644","pubTimestamp":1786112460,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1020 ET - DraftKings CEO Jason Robins says the platform's new prediction markets offering isn't eating into its existing sports-betting market share. DraftKings has rolled out prediction markets in several states where online sports betting isn't legal, such as California and Texas. That has opened up new markets where DraftKings wasn't previously able to operate sports betting, Robins says. In states where sports wagering was already legal, bettors are mostly sticking with their existing platforms rather than switching over to prediction markets, he says. 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DraftKings has rolled out prediction markets in several states where online sports betting isn't legal, such as California and Texas. That has opened up new markets where DraftKings wasn't previously able to operate sports betting, Robins says. In states where sports wagering was already legal, bettors are mostly sticking with their existing platforms rather than switching over to prediction markets, he says. Instead, the new business is bringing in more institutional investors, a customer cohort DraftKings hasn't historically attracted, Robins says.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}