DraftKings Investors Lack Visibility into Predictions' Future
Dow Jones
Nov 07
1222 ET - DraftKings investors are worried about how an uncertain regulatory environment for the prediction markets could play out for the betting company. Executives faced a round of questions on Friday's call about how they will navigate outcomes of a Supreme Court ruling on predictions, which is expected to happen in 2028. Chief Executive Jason Robins laid out best- and worst-case scenarios for the company. However, he also noted that there is a middle-road option where some sports contracts are available and some aren't. The lack of certainty about court rulings and their timing is weighing on investors' visibility into DraftKings' future performance. Shares slide 28%.
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