Track market-moving stories before they get noisy

Posted by Defense World Staff on Jul 22nd, 2026

Allspring Global Investments Holdings LLC decreased its position in shares of DraftKings Inc. (NASDAQ:DKNG – Free Report) by 31.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 550,267 shares of the company’s stock after selling 250,729 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of DraftKings worth $12,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DKNG. Integrated Wealth Concepts LLC grew its position in DraftKings by 5.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock valued at $314,000 after buying an additional 524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of DraftKings by 1,141.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock worth $1,463,000 after acquiring an additional 40,495 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of DraftKings by 18.0% during the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock worth $303,000 after acquiring an additional 1,391 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of DraftKings during the 2nd quarter valued at $603,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of DraftKings by 2.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 44,102 shares of the company’s stock worth $1,892,000 after purchasing an additional 968 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Trading Down 1.9% Shares of DKNG stock opened at $23.85 on Wednesday. DraftKings Inc. has a 1 year low of $20.46 and a 1 year high of $48.78. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $25.79 and its two-hundred day simple moving average is $25.95. The company has a market cap of $11.83 billion, a PE ratio of 397.50 and a beta of 1.65.

DraftKings (NASDAQ:DKNG – Get Free Report) last announced its earnings results on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company posted ($0.07) EPS. The company’s revenue was up 16.8% compared to the same quarter last year. Research analysts predict that DraftKings Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes Several equities analysts recently weighed in on the company. Citizens Jmp lifted their target price on DraftKings from $34.00 to $36.00 and gave the company a “market outperform” rating in a research report on Thursday, June 25th. HSBC upgraded DraftKings from a “hold” rating to a “hold” rating in a research report on Friday, April 24th. Stephens began coverage on DraftKings in a research report on Friday, April 24th. They set an “overweight” rating on the stock. BTIG Research increased their target price on shares of DraftKings from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of DraftKings from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.43.

View Our Latest Research Report on DraftKings

DraftKings News Summary Here are the key news stories impacting DraftKings this week:

Positive Sentiment: DraftKings launched DKeX, a new platform expansion that could broaden its product offering and support longer-term engagement and revenue growth. DraftKings (NASDAQ:DKNG) Expands Platform With DKeX Launch Positive Sentiment: Truist and Wells Fargo both maintained bullish ratings on DraftKings while trimming price targets to $29, signaling continued analyst confidence despite near-term volatility. DraftKings price target updates Neutral Sentiment: Coverage pieces about why DraftKings is catching market attention and a broader casino-stocks roundup may be contributing to trading interest, but they do not appear to signal a major fundamental change. Why Is DraftKings (NASDAQ:DKNG) Catching Market Attention? Negative Sentiment: Recent trading has been weak, with DKNG falling more than the broader market and closing around $24.32 in the latest cited session, suggesting momentum remains soft. DraftKings (DKNG) Declines More Than Market: Some Information for Investors Insider Transactions at DraftKings In related news, Director Woodrow Levin sold 34,234 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.71, for a total value of $880,156.14. Following the transaction, the director owned 29,820 shares of the company’s stock, valued at $766,672.20. This represents a 53.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R Stanton Dodge sold 62,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $29.68, for a total value of $1,855,000.00. Following the transaction, the insider owned 556,258 shares in the company, valued at approximately $16,509,737.44. This represents a 10.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,596 shares of company stock valued at $2,756,991 in the last quarter. 47.18% of the stock is currently owned by company insiders.

DraftKings Company Profile (Free Report)

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.

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DraftKings (DKNG - Free Report) closed the most recent trading day at $24.32, moving -2.49% from the previous trading session. This change lagged the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw a downswing of 0.59%, while the tech-heavy Nasdaq depreciated by 0.05%.

The company's stock has dropped by 5.49% in the past month, falling short of the Consumer Discretionary sector's gain of 1.02% and the S&P 500's gain of 0.55%.

The investment community will be closely monitoring the performance of DraftKings in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2026. The company is expected to report EPS of $0.22, down 42.11% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.53 billion, indicating a 1.3% growth compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.09 per share and a revenue of $6.8 billion, representing changes of +65.15% and +12.33%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for DraftKings. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 10.42% fall in the Zacks Consensus EPS estimate. DraftKings is currently sporting a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that DraftKings has a Forward P/E ratio of 22.99 right now. This valuation marks a premium compared to its industry average Forward P/E of 18.73.

The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 197, positioning it in the bottom 20% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

DraftKings stock is showing downward pressure. What’s ahead for DKNG stock? The Bear Cave Bites Down on DraftKings“The Bear Cave believes that Kalshi’s growth will ultimately come at the expense of DraftKings, first slowly, then rapidly,” the report states.

DraftKings did not immediately respond to Benzinga’s request for comment. Hunterbrook Media’s investment affiliate, Hunterbrook Capital, said it does not have any market position related to the report at the time of publication.

The Bear Cave points to Kalshi’s scale as evidence, citing Dune data showing the prediction market platform has surpassed $100 billion in cumulative volume and is running roughly $10 billion in weekly notional volume. Although investors believe prediction market risk is priced into the stock given it’s recent decline, The Bear Cave said it “strongly disagrees.”

The report argues that traffic is moving in one direction because prediction markets offer a better product and better distribution, adding that consumers are “voting with their fingertips.”

The Bear Cave compared World Cup winner markets on both platforms, saying a $100 position on Spain returned $167.48 on Kalshi versus $166 on DraftKings Predictions, with similar gaps on England and Argentina. The newsletter also noted DraftKings Predictions users cannot place limit orders.

DraftKings said last month that its predictions product was growing rapidly, reporting roughly $11.3 billion in annualized trading volume for the week ended June 21, representing about $217 million for the week. The Bear Cave called that performance “comparatively sluggish” given a recent DraftKings trading promotion offering new users $200 “prediction dollars” after making their first trade of $5 or more.

Kalshi was reportedly seeking funding at a $40 billion valuation last month, up from $22 billion in May, according to the Financial Times.

The Bear Cave argued regulatory risk cuts into the industry’s favor, citing President Donald Trump’s recent Truth Social post saying the CFTC’s exclusive authority over prediction markets must be maintained.

Not everyone shares the view. Morningstar has said it sees prediction markets as more opportunity than risk for DraftKings, and TD Cowen raised its price target on the stock to $35 from $30 last week, while JPMorgan maintained an Overweight on Wednesday and lifted its target to $34 from $31.

DKNG Shares Move LowerDKNG Price Action: DraftKings shares were down 1.27% at $24.94 at the time of publication on Thursday, according to Benzinga Pro.

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NEW YORK--(BUSINESS WIRE)---- $DKNG #ARCEntertainmentGroup--Beacon Market Research initiates TRWD coverage with a Positive rating and a $67M–$88M near-term enterprise value target.

New division will target ATM deployment, merchant payment processing, point-of-sale services, and a venue-integrated payment solution for adult entertainers

NEW YORK--(BUSINESS WIRE)--Tradewinds Universal (OTC: TRWD), a holding company building an experiential hospitality platform, today announced the establishment of its Financial Services Division.

TRWD is building a new recurring-revenue adult payment processing, POS services and venue-integrated technology—with multimillion-dollar potential.

ShareThe division is being developed to generate recurring, transaction-based revenue from services used every day across adult entertainment venues, bars, restaurants, nightclubs, and related hospitality businesses.

The Financial Services Division will initially focus on:

ATM deployment, management, and transaction servicesMerchant payment processing and point-of-sale servicesA professional, venue-integrated payment solution for adult entertainers and customersThe division is intended to complement TRWD's venue acquisition strategy, Club Management Group, technology initiatives, and strategic alignment with Peppermint Hippo and affiliated brands.

Capturing Revenue Already Moving Through the Industry

Adult entertainment and nightlife venues process significant cash and electronic payment volume every night. Customers withdraw cash, purchase food and beverages, reserve VIP tables, pay admission charges, and complete other transactions throughout the guest experience.

TRWD intends to participate in that activity through ATM surcharges, interchange and processing arrangements, merchant-processing residuals, equipment programs, software services, and transaction-based fees. Unlike revenue dependent on opening another venue, these services can scale with both the number of participating locations and the transaction volume generated inside each location.

"ATM withdrawals, card transactions, and digital payments are already happening throughout this industry every night," said Andrew Read, CEO of Tradewinds Universal. "Our opportunity is to bring those transactions into a professional platform that improves the customer experience while creating recurring revenue for TRWD."

ATM Deployment Across Entertainment and Hospitality Venues

Cash remains an important part of the adult nightlife and hospitality economy. TRWD plans to pursue ATM deployment and management opportunities across Peppermint Hippo and affiliated locations, future acquired venues, Club Management Group clients, and independently owned hospitality businesses.

ATM revenue is generated each time a customer accepts a disclosed surcharge to complete a withdrawal. In adult entertainment venues, where immediate access to cash is an important part of the customer experience, ATM charges can be substantially higher than those commonly found in traditional retail locations. On certain transactions, particularly smaller withdrawals, the ATM surcharge can represent up to approximately 25% of the amount withdrawn.

TRWD may participate in this revenue through ATM ownership, placement, management, processing relationships, interchange revenue, or negotiated revenue-sharing agreements with participating venues.

The global payment processing solutions market is projected to reach approximately $86.1 billion in 2026, while the global ATM market is estimated at approximately $25.7 billion in 2026. These adjacent markets demonstrate the scale of the transaction infrastructure supporting TRWD's specialized strategy. NCR Atleos Corporation, traded on the NYSE, and Euronet Worldwide, Inc., traded on Nasdaq, demonstrate the scale that can be achieved through ATM networks, transaction processing, and managed services.

TRWD intends to apply a more specialized model focused on entertainment and hospitality locations where demand for convenient access to cash remains significant.

Merchant Processing and Point-of-Sale Services

The Financial Services Division also intends to offer merchant-processing and point-of-sale services to adult entertainment venues, bars, restaurants, nightclubs, and other hospitality operators.

Payment-service providers commonly earn a percentage of payment volume, fixed per-transaction charges, and recurring fees for equipment, software, account services, and support. Restaurant and hospitality payment-processing costs frequently range from approximately 1.5% to 3.5% of transaction value, depending on card type, processing volume, risk profile, and services provided.

Adult entertainment businesses are often classified as higher-risk merchants, resulting in higher processing costs, stricter underwriting, reserve requirements, account restrictions, and fewer available providers. TRWD intends to use its industry knowledge and relationships to connect participating businesses with qualified acquiring banks, payment processors, point-of-sale providers, and related technology partners.

Shift4 Payments, Inc. and Toast, Inc., both traded on the NYSE, demonstrate how payment volume, point-of-sale technology, software, and recurring transaction fees can be combined into scalable business models.

TRWD believes it can apply a similar transaction-driven approach to a specialized hospitality market where it already has industry access and potential participating locations.

Developing a Professional Payment Solution for Adult Entertainers

A major initiative of the Financial Services Division will be the development of a professional payment method that allows adult entertainers to accept authorized customer payments through a secure, transparent, and venue-integrated system.

Customers and entertainers currently rely heavily on cash and credit-card transactions. The growth of consumer peer-to-peer payment applications has created circumvention issues, with some entertainers attempting to accept electronic payments directly from customers outside the venue's approved systems. These applications were not specifically designed for transactions inside adult entertainment venues, and their rules may restrict certain commercial transactions or require approved business accounts and merchant relationships.

When payments occur outside a venue's approved systems, the club can lose transaction visibility, financial controls, and potential participation in revenue generated inside its own location.

TRWD's proposed solution is intended to:

Provide customers with a professional digital payment optionGive entertainers a safer and more reliable alternative to cash and informal payment applicationsIntegrate payments with venue operations and financial controlsProtect customer and entertainer privacyImprove transaction visibility and recordkeepingCreate additional transaction-based revenue for participating venues and TRWD"The customer wants convenience, the entertainer wants confidence that the payment will be received, and the venue needs a professional system that protects everyone involved," said Alan Chang, founder and Chief Executive Officer of Peppermint Hippo and a director of TRWD. "This is a real operational need throughout the industry. Solving it correctly can improve the guest experience, reduce payment friction, and create an important new revenue stream."

Building a Scalable Financial Services Platform

TRWD has retained a specialized payments-technology developer to begin building the integration, reporting, and venue-onboarding infrastructure for the Financial Services Division. The Company intends to combine this technology with its relationships across adult entertainment, nightlife, bar, and restaurant operations to deploy ATM, merchant-processing, point-of-sale, and related transaction services through qualified third-party providers.

The opportunity is supported by operating data provided by TRWD's strategic partner, Peppermint Hippo, and its affiliated brands. Using a conservative benchmark of approximately $100,000 in annual ATM surcharge sales per established venue, a network of only 20 participating locations could represent approximately $2 million in annual ATM surcharge volume.

TRWD also intends to offer its services to independently owned clubs and hospitality businesses outside its affiliated network. When combined with merchant-processing residuals, point-of-sale services, equipment programs, entertainer payments, and other transaction-based revenue, management believes the Company's industry relationships could support rapid adoption and position the Financial Services Division to pursue eight-figure annual revenue potential as the platform expands.

"The value of this division grows with every location and every transaction," Read added. "We are beginning with an industry network we already understand, but the opportunity extends well beyond our affiliated venues. The goal is to build a financial-services platform that can serve operators throughout the entertainment and hospitality industries."

Clarification of TRWD's Role

TRWD's Financial Services Division is being established as a non-bank services platform. The Company does not intend to operate as a bank, depository institution, lender, or independent money transmitter.

TRWD intends to provide, manage, integrate, and market ATM, merchant-processing, point-of-sale, and related transaction services through relationships with qualified acquiring banks, payment processors, ATM networks, technology providers, and other appropriately authorized third parties.

Those providers would remain responsible for applicable merchant underwriting, transaction authorization, processing, clearing, settlement, and movement of funds. TRWD's anticipated role will center on commercial relationships, technology integration, program management, venue implementation, customer support, and participation in transaction-based fees and revenue-sharing arrangements.

About Peppermint Hippo

Founded in 2018 by Alan Chang, Peppermint Hippo has grown from Toledo, Ohio into the fastest-expanding adult nightlife brand in the country. Its Las Vegas flagship opened in April 2022 as the only gentlemen's club on the Las Vegas Strip. The brand now operates 12-plus clubs nationwide, including affiliated Las Tóxicas locations, delivering a "Mini-Vegas" experience through upscale design, professional entertainment, and elevated hospitality standards. Visit ThePeppermintHippo.com.

About Tradewinds Universal

Tradewinds Universal (OTCID: TRWD) is a fully reporting, publicly traded holding company acquiring and scaling adult hospitality businesses. The Company is consolidating a fragmented industry under a public structure, in strategic alignment with Peppermint Hippo and affiliated brands. Its long-term goal is to build a national, multi-brand platform comprising 100 or more venues.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding TRWD's operational plans, acquisition timing, revenue expectations, growth prospects, expansion targets, and anticipated strategic developments. Factors that could cause actual results to differ include, but are not limited to, risks associated with the Company's ability to consummate acquisitions, obtain necessary licensing and regulatory approvals, integrate acquired businesses, access capital on favorable terms, achieve projected revenue targets, and navigate general economic and market conditions. Revenue figures attributed to Peppermint Hippo and affiliated brands reflect the performance of entities that are not yet wholly owned subsidiaries of TRWD; actual revenue contribution to TRWD's consolidated financial statements will depend on the timing and completion of definitive acquisition agreements. Forward-looking statements speak only as of the date of this release. Tradewinds Universal disclaims any obligation to update or revise any forward-looking statements except as required by law.

Data Sources and References

Peppermint Hippo and affiliated brandsFortune Business Insights — Payment Processing Solutions Market Size and Industry OverviewMordor Intelligence — ATM Market Size and Share AnalysisNerdWallet — Credit Card Processing Fees: What Small Businesses Should KnowNCR Atleos Corporation — Company InformationEuronet Worldwide, Inc. — Investor Relations

Investor Michael Burry made hundreds of millions of dollars as the Great Financial Crisis unfolded by shorting subprime mortgages. This would lead to his eventual portrayal in the film “The Big Short," positioning him as a famed investor.

DraftKings Today

$26.48 +0.19 (+0.72%)

As of 07/10/2026 04:00 PM Eastern

52-Week Range$20.46▼

$48.78P/E Ratio441.33

Price Target$34.46

Burry’s hedge fund, Scion Asset Management, is now defunct. However, he remains a part of the investment zeitgeist, providing his takes on various assets.

Notably, Burry recently made his opinion known on one of the most beaten-down corners of the stock market in 2026: online sportsbook stocks.

Get Flutter Entertainment alerts:

The two most notable names in this space are DraftKings NASDAQ: DKNG and Flutter Entertainment NYSE: FLUT. DraftKings operates a sportsbook app by the same name, while Flutter operates the app FanDuel.

Flutter Entertainment Today

FLUT

Flutter Entertainment

$110.84 +0.05 (+0.05%)

As of 07/10/2026 03:59 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$91.52▼

$313.68Price Target$178.83

Overall, DraftKings is down more than 20% on the year, while Flutter has lost almost half of its value. Evidently, Burry thinks the market is wrong on these entertainment names, recently picking up shares of both.

The emergence of prediction markets like Kalshi and Polymarket has been a huge driver of the decline in DraftKings and Flutter shares.

However, Burry believes that Uncle Sam will have something to say about prediction markets, significantly weakening their competitive threat.

Burry Reveals Sportsbook Purchase Prices and WeightingBurry says he recently purchased shares of DraftKings at around $26 per share and of Flutter at around $107 per share. Shares remain very close to these levels. Burry says that his allocation between the two names is 40% DraftKings and 60% Flutter. It is notable that Burry is allocating to both stocks rather than just one. This helps limit company-specific risk, such as the potential that either company’s management team makes poor decisions that only negatively impact their firm.

Through this, Burry can bet on a general recovery in online sportsbook stocks without putting all of his eggs in one basket. However, the slight overweight to Flutter may simply reflect the fact that the stock has fallen much harder. Additionally, Flutter has shown an ability to better convert the value of the bets placed on FanDuel into actual revenue compared to DraftKings.

Burry’s Rationale: Governments Will Come for Prediction MarketsPrediction markets provide many of the same functions as online sportsbooks, allowing users to wager on the outcomes of events, including sports. Because prediction markets offer “event contracts," they are federally regulated by the U.S. Commodity Futures Trading Commission, rather than by states like sportsbooks.

In turn, they are technically legal in all 50 states, although CBS Sports notes that prediction markets are not currently live in Michigan, Minnesota, or Nevada. Meanwhile, only 30 states offer online sports betting, as many states have not legalized these platforms. Additionally, prediction markets often face significantly lower taxes than sportsbooks.

Burry ultimately believes that prediction markets will not be able to face this lower level of legal scrutiny and taxation forever. He says, “Prediction markets exist in a loophole adjacent to a heavily regulated and taxed industry. In time, prediction markets will be subsumed into regulation and taxation.”

Notably, in Q3 2021, states collected $190 million in tax revenue from sports betting nationwide. By Q2 2025, that figure had risen 382% to $917 million. With this, it is not unreasonable to think that Burry’s argument holds weight. If prediction markets take betting share from sportsbooks, states can lose out on this large and quickly growing revenue source.

Wall Street Data Backs Burry’s Optimistic OutlookOverall, only time will tell if Burry’s thesis that prediction markets will succumb to government intervention plays out. Smartly, DraftKings and Flutter are hedging for a reality where it does not. Both firms have rolled out their own prediction market offerings, potentially allowing them to benefit from growth in this space. However, Burry’s thesis becoming a reality would be ideal. Kalshi and Polymarket do not have sportsbook platforms to fall back on if regulation crushes the prediction markets industry, while DraftKings and Flutter do.

Notably, Wall Street analysts tend to agree with Burry that the market is undervaluing DraftKings and Flutter. The MarketBeat consensus price target on DraftKings is $34.30, implying upside in the range of 30%. Meanwhile, the overwhelming majority of analysts have a Buy rating on the stock. Out of 40 ratings, DraftKings has 30 Buys, eight Holds, and two Sells.

From a price target perspective, analyst bullishness is even more stark when it comes to Flutter. The MarketBeat consensus price target on this name is $178.83, implying upside in the range of 60%. However, the ratings breakdown is somewhat less favorable compared to DraftKings. Out of 29 ratings, Flutter has 18 Buys, nine Holds, and two Sells.

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BOSTON--(BUSINESS WIRE)--DraftKings Inc. (Nasdaq: DKNG) today announced plans to launch its top-rated online sportsbook and casino, along with its Golden Nugget Online Gaming brand, in Alberta on July 13. Alberta will become the second Canadian province and the 34th jurisdiction across North America where DraftKings Sportsbook is available. With the launch, DraftKings Casino will be available in five U.S. states and Golden Nugget Online Gaming casino in four U.S. states, with both brands available in Alberta and Ontario in Canada.

Ahead of the official launch, DraftKings will host a watch party for the World Cup on July 11 at the Wildhorse Saloon in Calgary. The event is part of DraftKings' broader initiative that has brought fans across North America closer to the excitement of the tournament through a series of watch parties in Los Angeles, Dallas, Miami and Hoboken. Each event has featured live match viewing, giveaways and interactive activations designed to create memorable fan experiences.

“We’re thrilled to launch DraftKings Sportsbook and DraftKings Casino, as well as Golden Nugget Online Gaming in Alberta and continue expanding our presence in Canada,” said Greg Karamitis, Executive Vice President and General Manager of Sports at DraftKings. “Alberta is home to a passionate sports fan base, and we’re excited to bring customers across the province our industry-leading sports betting and online casino experiences. Launching during one of the biggest moments in global sports, with the World Cup taking place across North America, makes this an especially exciting time to welcome Albertans to DraftKings.”

To celebrate the launch in Alberta, DraftKings employees will volunteer with Food Banks Alberta and present a $150,000 donation to the organization. The funding will purchase over 40,000 pounds of essential food items to be distributed through Food Banks Alberta's network of member food banks, ensuring resources reach communities both large and small throughout Alberta. This donation will help provide essential food support, including high demand items like fruits and vegetables and baby formula to individuals and families facing hunger, while strengthening local food banks' ability to meet growing demand.

Eligible customers in Alberta will have access to DraftKings’ comprehensive suite of sports betting and online casino offerings. From same-game parlays, live in-game wagering, and special odds boosts on DraftKings Sportsbook to thousands of casino games, including fan-favorite titles like “Wheel of Fortune – Triple Extreme Spin,” exclusive slot titles, as well as progressive jackpots across Golden Nugget Online Gaming and DraftKings Casino, DraftKings delivers one of the industry’s most robust and engaging entertainment experiences.

DraftKings leads the industry in responsible engagement by promoting customer awareness and use of budget and control tools and resources like deposit limits, cool off periods, and self-exclusion to help customers have a fun source of entertainment with a brand they can trust.

The DraftKings Sports and Casino app and Golden Nugget Online Gaming casino app are available to be downloaded today for iOS and Android here and here. Customers can review DraftKings’ Responsible Engagement tools here. For additional problem gambling support or services, Alberta customers can visit GameSense or ABiGaming.ca, or contact the GameSense Info Line at 1-833-447-7523.

About DraftKings
DraftKings Inc. is a digital sports and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with platforms that range across daily fantasy, regulated gaming, prediction markets and digital media. Headquartered in Boston and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings’ mission is to make life more exciting by responsibly creating the world’s favorite real-money games, betting experiences and event contracts trading. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 30 states, Washington, D.C., Puerto Rico, and Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states and in Ontario, Canada, under its Golden Nugget Online Gaming brand. DraftKings also owns Jackpocket, the leading digital lottery courier app in the United States. DraftKings’ daily fantasy sports platform is available in 44 states, Washington, D.C., and certain Canadian provinces. DraftKings' wholly-owned subsidiary GUS III LLC (d/b/a DraftKings Predictions) also operates DraftKings Predictions, offering federally regulated event contracts under CFTC oversight. DraftKings is both an official sports betting and daily fantasy partner of the NHL, PGA TOUR and WNBA, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network, a multi-platform content ecosystem. DraftKings is committed to delivering responsible engagement tools and resources, while focusing on integrity and customer education.

More News From DK Crown Holdings Inc.

Flutter's logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

CompaniesJuly 8 (Reuters) - Michael Burry, the investor famed for predicting and profiting from the 2008 U.S. housing market collapse, has bought shares ​of sports-betting platforms Flutter Entertainment (FLTRF.L), opens new tab and DraftKings (DKNG.O), opens new tab, wagering regulatory scrutiny ‌will eventually curb the threat posed by prediction markets.

Burry said on Wednesday he bought Flutter at about $107 a share and DraftKings "in the low $26s." Together, the investments ​make up a full-sized position weighted roughly 60/40 toward ​Flutter, though the investor said he may make each a full ⁠position in the future.

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Prediction markets are the main threat ​facing the two companies, Burry said in a post on his website, ​because their event contracts can be offered nationwide under Commodity Futures Trading Commission oversight while avoiding state gaming taxes.

Prediction markets let traders buy and ​sell contracts tied to the outcome of events, including sports, ​elections and economic data.

Burry said these platforms operate in a loophole alongside a ‌heavily ⁠regulated and taxed gambling industry. "I believe that the political climate will not tolerate this," he wrote, adding that he expects prediction markets to eventually be brought under regulation and taxation.

Shares of Flutter, ​down 50% this ​year as ⁠of last close, remain attractive because the company is a strong business with significant scale despite ​past capital misallocation, while DraftKings, whose shares are ​down 21%, is ⁠inflecting as an operating business, the investor said.

Meanwhile, Burry also said he bought more JD.com shares at $27.58, calling it one of his top ⁠three ​positions, and that he expects Hong Kong and ​Chinese stocks to benefit as AI and memory-chip enthusiasm unwinds in South Korea ​and Japan.

Reporting by Pragyan Kalita in Bengaluru; Editing by Jonathan Ananda

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Michael Burry of "The Big Short" fame said he bought shares of regulated sports-betting operators DraftKings and Flutter Entertainment, anticipating regulators will eventually crack down on prediction markets after competition from the upstarts pressured the stocks.

Burry said Wednesday he purchased a full-sized position split roughly 60% in Flutter and 40% in DraftKings, buying Flutter at about $107 a share and DraftKings in the low $26 range. He said he could eventually increase each holding into a full standalone position.

DraftKings one year

The investor, who rose to prominence for predicting the U.S. housing crash in 2008, said both companies are attractive businesses whose shares have been weighed down by the rapid expansion of prediction markets.

Those platforms have increasingly offered event-based contracts, which the U.S. Commodity Futures Trading Commission asserts is under its jurisdiction. The federal agency is currently engaged in legal action against multiple states in a battle over who can regulate prediction markets. The contracts have also managed to sidestep state gaming taxes.

"I believe that the political climate will not tolerate this," Burry said in a Substack post Wednesday. "Prediction markets exist in a loophole adjacent to a heavily regulated and taxed industry. In time, prediction markets will be subsumed into regulation and taxation."

Flutter Entertainment one year

Shares of DraftKings have fallen about 45% from their 52-week high reached last September, while Flutter has slid 65% from its August peak.

"DraftKings is inflecting as an operating business and the value is in the transition I foresee in the near future," he wrote. "Flutter has been hurt by capital misallocation in the past, but is a fundamentally very good operating business with terrific scale."

Both companies have also begun exploring their own prediction-market offerings, potentially positioning themselves to benefit regardless of how the regulatory landscape evolves, Burry noted.

DraftKings shares are powering higher. What’s fueling DKNG momentum? What Is Driving DraftKings’ New DKeX Exchange?DraftKings is deepening its push into prediction markets with DKeX, a proprietary exchange built to support a more differentiated DraftKings Predictions experience and expand the range of event contracts available on its platform.

The rollout comes as DraftKings Predictions gains traction, with the company reporting about $3.4 billion in annualized consumer volume for the week ended June 21 and roughly $11.3 billion in annualized total trading volume. That scale is one reason traders are viewing DKeX as more than a routine product update, but as a move toward greater vertical integration.

The launch also comes as the prediction-markets space grows more competitive. Meta is reportedly developing a standalone app internally called "Arena," raising questions about whether new entrants could eventually pressure user engagement, pricing power and market share.

DraftKings Stock: Key Levels To WatchAt $26.98, the stock is trading above its 20-day SMA ($26.52), 50-day SMA ($25.37), and 100-day SMA ($24.41), which keeps the intermediate trend pointed up after the April swing low. The bigger-picture hurdle is still the 200-day SMA ($28.87), with shares trading 5.7% below that long-term trend line after a weaker 12-month run (down 32.85%).

MACD is the cleaner momentum read right now: it’s below its signal line with a negative histogram, which typically means upside pressure is cooling unless buyers can reassert control. In plain terms, MACD tracks trend momentum, and being below the signal line often shows the recent upswing is losing steam rather than accelerating.

Key Resistance: $30.00 — a round-number area that can act as an overhead supply zone as price works back toward longer-term resistance Key Support: $23.50 — a nearby floor that lines up with a prior buyer-defense zone and sits below the 50-day/100-day averages as a "trend break" tell What Is DraftKings and How Does It Operate?DraftKings got its start in 2012 as an innovator in daily fantasy sports, then expanded into online sports and casino gambling after the 2018 Supreme Court ruling that opened the door for state-by-state legalization. Today it generally holds the number-two or -three revenue share position across states where it competes, giving it scale benefits in a market where product depth and pricing can drive retention.

DraftKings Earnings Preview: What Analysts ExpectLooking further out, the next major catalyst for the stock arrives with the August 5, 2026 (estimated) earnings report.

EPS Estimate: 28 cents (Down from 38 cents YoY) Revenue Estimate: $1.56 Billion (Up from $1.51 Billion YoY) Valuation: P/E of 291.2x (Indicates premium valuation) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $35.13 (high $50.00, low $27.00) across 50 analysts. Recent analyst moves include:

Susquehanna: Positive (Lowers Target to $31.00) (July 1) Citizens: Market Outperform (Raises Target to $36.00) (June 25) Guggenheim: Buy (Maintains Target to $35.00) (June 24) DraftKings Benzinga Edge Rankings ExplainedBelow is the Benzinga Edge scorecard for DraftKings, highlighting its strengths and weaknesses compared to the broader market:

The Verdict: DraftKings’ Benzinga Edge signal reveals a premium-valued setup with only moderate growth support and still-weak momentum characteristics. For longer-term bulls, the cleaner technical tell is whether price can reclaim the 200-day area; for risk control, $23.50 is the nearby level that would start to undermine the current uptrend structure.

DraftKings Stock Price Action on TuesdayDKNG Stock Price Activity: DraftKings shares were up 2.75% at $26.93 at the time of publication on Tuesday, according to Benzinga Pro data.

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When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about DraftKings (DKNG - Free Report) .

DraftKings currently has an average brokerage recommendation (ABR) of 1.63, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 36 brokerage firms. An ABR of 1.63 approximates between Strong Buy and Buy.

Of the 36 recommendations that derive the current ABR, 24 are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 66.7% and 8.3% of all recommendations.

Brokerage Recommendation Trends for DKNG

Check price target & stock forecast for DraftKings here>>>

While the ABR calls for buying DraftKings, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.

This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.

Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.

In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.

In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Is DKNG a Good Investment?In terms of earnings estimate revisions for DraftKings, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $1.15.

Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for DraftKings. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for DraftKings.

DraftKings (DKNG - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Over the past month, shares of this company have returned +4.9%, compared to the Zacks S&P 500 composite's -2.9% change. During this period, the Zacks Gaming industry, which DraftKings falls in, has gained 5.7%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For the current quarter, DraftKings is expected to post earnings of $0.34 per share, indicating a change of -10.5% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.

For the current fiscal year, the consensus earnings estimate of $1.15 points to a change of +74.2% from the prior year. Over the last 30 days, this estimate has remained unchanged.

For the next fiscal year, the consensus earnings estimate of $1.78 indicates a change of +54.4% from what DraftKings is expected to report a year ago. Over the past month, the estimate has remained unchanged.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, DraftKings is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

For DraftKings, the consensus sales estimate for the current quarter of $1.57 billion indicates a year-over-year change of +3.9%. For the current and next fiscal years, $6.8 billion and $7.77 billion estimates indicate +12.4% and +14.2% changes, respectively.

Last Reported Results and Surprise HistoryDraftKings reported revenues of $1.65 billion in the last reported quarter, representing a year-over-year change of +16.8%. EPS of $0.2 for the same period compares with $0.12 a year ago.

Compared to the Zacks Consensus Estimate of $1.64 billion, the reported revenues represent a surprise of +0.12%. The EPS surprise was -9.09%.

Over the last four quarters, DraftKings surpassed consensus EPS estimates times. The company topped consensus revenue estimates two times over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

DraftKings is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about DraftKings. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

• DraftKings shares are climbing with conviction. Why are DKNG shares rallying?

DraftKings Stock Emerges as World Cup WinnerThe launch expands on the company’s previously released prediction markets with new backend vertical integration and the ability to keep users in one app, so they don’t use another platform for predictions.

DKeX comes from DraftKings’ previous acquisition of Railbird Technologies, a CFTC-licensed platform.

News of the launch sent shares of the sportsbook company higher Friday morning. Investors should also be paying attention to the numbers disclosed Friday by the company about the World Cup.

On Friday, DraftKings said its DraftKings Prediction segment is seeing strong growth during the World Cup. The company reported $3.4 billion in annualized consumer volume and $11.3 billion in annualized trading volume for the week ending June 21.

The company previously announced that one week into the World Cup, DraftKings Predictions had a 3x increase in first-time customers and saw trading volume up 87%.

The company’s prediction market also saw "combos," which represent around 40% of trading volume, with users putting more than one outcome into each prediction.

And it’s not just the company’s prediction markets segment that is winning.

After one week in the World Cup, the company said its handle on the event was five times higher than at the same stage of the 2022 World Cup.

DraftKings reported that the matches between the U.S. and Paraguay, and Morocco and Brazil, were the two largest soccer events in company history for betting handle and active customers who bet on the event.

This was, of course, data after only one match for each team, including the U.S.

What’s Next for World CupThe group stage of the World Cup is nearing its end, and the top 32 teams will advance to the knockout rounds.

The U.S. team has already qualified, winning their group, and will face Bosnia and Herzegovina in the round of 32.

In the 2022 World Cup, the U.S. faced the Netherlands in the round of 16 right after the group stage and lost, ending their tournament run.

A longer path for U.S. could be good for sportsbooks such as DraftKings in the U.S.

What some investors and analysts may be missing is the structure of this year’s global event. The 2026 World Cup included 48 teams, instead of the traditional 32 teams. The top third-place teams in the group stage will also move on, creating a new knockout bracket of 32 teams, instead of the usual 16.

This gives sportsbooks and prediction markets more games for consumers to wager on. The tournament features 104 games this year, up from 64 in the 2022 World Cup.

More games and the success of the U.S. team could be key factors in betting handle, seeing a significant increase from the last tournament.

DraftKings Stock Price ActionDraftKings stock is up 5.15% To $24.29 on Friday versus a 52-week trading range of $20.46 to $48.78. DraftKings stock is down 32.3% year-to-date in 2026.

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DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced the launch of its proprietary prediction markets exchange, DKeX, with in

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Nasdaq Extends Losing Streak Even As Micron Soars On Earnings; Apple Stock Dives Below Key Level Polymarket climbed above $1 billion in annualized revenue, CNBC reported Friday, as prediction markets become an increasingly popular way to wager on various events and everyday life. The news comes six weeks after privately-held Polymarket lifted the waitlist for its U.S. exchange. DraftKings (DKNG) on Friday announced the launch of its prediction markets exchange, which will integrate with its sportsbook…

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Our DraftKings (NASDAQ:DKNG | DKNG Price Prediction) price prediction lands within striking distance of where the stock trades today. After a brutal twelve months for shareholders, the question is whether the prediction markets pivot and Sportsbook margin expansion can outrun the litigation overhang and softer engagement metrics. My read: the risk/reward is balanced, with a slight tilt toward patient accumulation.

The 24/7 Wall St. price target for DraftKings is $26.77 over the next 12 months, implying 4.38% upside from $25.65. Our recommendation is hold, with a confidence level of 90%.

24/7 Wall St. Price Target Summary Metric Value Current Price $25.65 24/7 Wall St. Price Target $26.77 Upside 4.38% Recommendation HOLD Confidence Level 90% A Year of Pain, A Quarter of Hope DKNG has fallen 36.68% over the past year and 25.57% year-to-date, with the stock sliding 10.91% in just the past week. Shares now sit 28% below their 52-week high of $48.78, though comfortably above the low of $20.46.

The Q1 2026 earnings report was a genuine bright spot. Revenue rose 8.83% to $1.65 billion, EPS of $0.20 beat by 16.41%, and Adjusted EBITDA jumped 64% to $167.85 million.

Still, the stock has been weighed down by a class action lawsuit filed April 29, 2026 alleging deceptive interface design, a Federal Reserve study linking sportsbook activity to consumer debt delinquency, and steady insider selling, including 62,500 shares from the Chief Legal Officer on June 11.

Why Bulls See a Breakout Ahead The bull case rests on three pillars. First, Sportsbook net revenue margin expanded to 7.8% from 6.4%, with average revenue per Monthly Unique Payer up 21% to $131.

Second, the DraftKings Predictions launch under CFTC oversight, paired with the Crypto.com Derivatives partnership, opens a federally regulated event-contract market that could lift the entire valuation framework.

Third, the Missouri mobile launch and iGaming advocacy spend offer state-level optionality.

Morningstar has reiterated bullish commentary on the prediction-market expansion, and the consensus analyst target of $34.88 implies meaningful upside if execution holds. Our internal bull-case path projects DKNG reaching $48.28 within twelve months, a 88.23% total return.

The Risks Worth Watching Bears point to a 4% YoY decline in Monthly Unique Payers to 4.2 million, negative Q1 operating cash flow of $48.4 million, and stock-based compensation of $65.2 million. State tax hikes in New Jersey, Louisiana, and Illinois compress structural margins.

To be fair, the cash-flow softness reflects $26.4 million in legalization advocacy and aggressive Predictions investment, both of which management frames as growth capex rather than recurring drag.

Litigation is the bigger swing factor. The PHAI product-liability suit and a Fed paper tying betting to delinquencies could pressure multiple expansion. Average analyst targets have already drifted from $44.58 to $38.80. Our bear-case scenario lands at $24.26 over twelve months.

DraftKings Price Prediction 2026-2030 The 24/7 Wall St. price target of $26.77 sits just above the current quote, and our hold rating carries 90% confidence. The constructive scenario hinges on MUP stabilization in Q2 and meaningful Predictions volume by year-end.

The cautious scenario is one where litigation expands or state tax increases spread further. The setup is balanced, and patience is the right posture.

Year 24/7 Wall St. Price Target 2026 $26.77 2027 $27.08 2028 $27.21 2029 $29.53 2030 $31.70 These projections assume DraftKings continues scaling Sportsbook margins and successfully establishes a defensible Predictions footprint. Significant upside or downside could result from federal prediction-market rulings, state iGaming legalization waves, or escalating product-liability litigation.

Snail Inc (NASDAQ:SNAL) on Thursday announced a slate of portfolio updates, including the debut of its first paid PixARK expansion, participation in the 2026 Steam Summer Sale, and continued traction for Bellwright following its console launch.

The company unveiled PixARK: Terracrypt, the first paid DLC for its sandbox survival title PixARK, which has surpassed one million downloads.

The expansion is planned to introduce more than 200 hours of gameplay, 80 new creatures, and a new open environment aimed at extending player progression. The PixARK base game is currently discounted 57% on Steam ahead of the DLC's release.

Snail also highlighted its participation in the 2026 Steam Summer Sale, noting that seasonal promotions have historically driven player acquisition, unit sales, and revenue across its catalog. ARK: Survival Ascended is available at 75% off during the event, ahead of the July 2 launch of Genesis Ascended Part I and Tides of Fortune content.

Bellwright, available at 34% off during the sale, is maintaining a Mostly Positive rating on Steam and has earned 3.7 and 3.8 stars on PlayStation and Xbox, respectively. The title reached the Top 5 Paid Games list on Xbox following its console launch.

Snail said it plans to continue supporting its portfolio through content updates, platform expansions, and new releases for the remainder of the year.

• DraftKings stock is taking a hit today. What’s behind DKNG decline?

Analyst Price Forecast UpgradesMeta Explores “Arena” Prediction AppHawkish Federal Reserve Shift Pressures Growth ValuationSector Volume Records and Market PositionDespite the equity price pressure, the prediction and gaming sector continues to experience expansion, booking $28.4 billion in May volume to mark a fourth consecutive monthly high. Bernstein estimates the market could reach $1 trillion in annual volume by the end of the decade.

DraftKings, which launched its predictive market product in 2025, maintains the number-two or -three revenue share position across its operational states, with 2025 sports revenue accounting for 63% of total sales.

DKNG Stock Price Activity: DraftKings shares were down 4.40% at $23.45 at the time of publication on Thursday, according to Benzinga Pro data.

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The rise of prediction markets is disrupting DraftKings (DKNG 1.95%) business model.

DKNG stock gains 12% in three months as Sportsbook momentum and improving profitability lift sentiment. Yet, heavy Predictions investments warrant caution.

Live Updates 12 hours ago

Aside from all the attention DraftKings (NASDAQ: DKNG | DKNG Price Prediction) has been getting, analysts at Wedbush say Flutter Entertainment (NYSE: FLUT) could get a boost from the 2026 FIFA games. The firm has an outperform rating on the stock with a $138 price target.

“We expect share gains to materialize around the 2026 FIFA World Cup with [earnings] stacking as NFL/college football season starts and as the company deploys most of the $300mn it has earmarked for Predicts investment,” said the firm, as quoted by CNBC.

With news that the war with Iran is ending, markets could see higher highs.

This morning, S&P 500 futures are up by 0.06%, or by four points. The SPDR S&P 500 ETF (SPY) is up by $13.08 at $754.83. The Dow is up by 0.11%, or by 55 points. The Nasdaq is up by 0.28%, or by 87 points. Oil is below $80 at $78.32. Gold is up by $9.88 at $4,339.76.

However, as exciting as the end-of-war news has become, some analysts are skeptical.

“We will believe all of this when we see it,” said Jan Stuart, global energy strategist at Piper Sandler, as quoted by CNBC. “Obviously, both sides are contradicting themselves, and none of the details mesh.” Others are waiting to see if traffic in the Strait of Hormuz ramps up, according to Sarah Bianchi, chief strategist for international political affairs and public policy at Evercore ISI, as also noted by CNBC.

Hopefully, things will go smoothly, and we can move on from the war.

SpaceX Stock is Still Blasting Off  Since going public, shares of SpaceX (NASDAQ: SPCX) have been rocketing higher. In fact, from $161.85, it’s now up to $209.15 in premarket.

While some caution is warranted for the hot IPO, Elon Musk says the company’s revenue could eventually grow to about $1 trillion by 2030. If that were to happen, the company’s current $2.52 trillion market cap doesn’t seem so far from reality. “I would be surprised if revenue is not greater than $1 trillion in 2031,” added Musk, as quoted by Reuters.

Fueling more upside, SPCX just signed an agreement with Google to provide cloud services for $920 million a month over the next 32 months. It also signed an agreement with Anthropic “to rent compute capacity at its Colossus data center for $1.2 billion per month over three years,” as reported by MarketWatch.com.

Market Movers: IPO ETFs Gaining Momentum  Over the last few weeks, we mentioned that instead of investing in SPCX, investors may want to consider related ETFs, which run on hot new IPOs.

One of those was the First Trust US Equity Opportunities ETF (NYSEARCA: FPX).

With an expense ratio of 0.61%, the FPX tracks hot IPOs, giving investors access to new stocks during their initial, most crucial days on the market. By buying it, not only can you avoid paying gobs of money for IPOs that may or may not work out, but you’re also being exposed to multiple hot IPOs at the same time at a lesser cost.

When we last mentioned FPX, it traded at $163. It’s now up to about $200 a share.

Another one was the Renaissance IPO ETF (NYSE: IPO), which traded at $42.71. It’s now up to $58.05. With an expense ratio of 0.6%, the ETF provides “investors with the largest, most liquid US-listed newly public company stocks in one security, reducing the risk of single-stock ownership while avoiding overlap with major core indices for optimal diversification across markets and time,” as noted by Renaissance Capital.

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© Scott Eisen / Getty Images for DraftKings

The headline question has a clean answer. DraftKings (NASDAQ:DKNG | DKNG Price Prediction) would need to roughly double from $28.79 to clear $57 by year-end 2026, and our proprietary model does not see it happening in that window. That said, we are still constructive on the stock from here.

Our 24/7 Wall St. price target for DraftKings is $32.87, implying 14.16% upside over the next 12 months. The recommendation is buy, with high confidence at 0.9.

24/7 Wall St. Price Target Summary Metric Value Current Price $28.79 24/7 Wall St. Price Target $32.87 Upside 14.16% Recommendation BUY Confidence Level 90% A Volatile Year That Reset Expectations DKNG has rallied 16.18% in the past week and 15.16% over the past month, but the stock is still down 16.45% year-to-date and 21.12% over the trailing year. Shares sit roughly 28% below the 52-week high of $48.78, after bottoming near $20.46.

Q1 2026 results reframed the story. Revenue of $1.65 billion beat consensus by 4.54%, sportsbook revenue rose 24.1%, and adjusted EBITDA jumped 64% to $167.85 million. EPS of $0.20 missed the $0.36 estimate, but management reaffirmed full-year revenue guidance of $6.50 billion to $6.90 billion.

Why Bulls See a Breakout Ahead Our 1-year bull scenario lands at $49.50, a 71.94% return that gets close to doubling without quite touching it. Drivers include the launch of DraftKings Predictions, the CFTC-regulated event-contracts platform CEO Jason Robins says will deliver a “leadership position in Sports Predictions before year-end.”

Sportsbook net revenue margin expanded to 7.8% from 6.4%, and average revenue per user climbed 21% to $131. Wall Street agrees: 23 Buy ratings, 5 Strong Buys, and a consensus target of $34.88.

What Could Go Wrong Monthly Unique Payers fell 4% YoY, operating cash flow turned negative at -$48.4 million, and DKNG carries a stretched trailing P/E of 322. Bulls would counter that the MUP drop reflects a deliberate shift toward higher-value users (ARPU up 21%) and that the cash-flow dip reflects heavy Predictions investment, not deteriorating economics.

Still, insiders have been net sellers across 84 recent transactions, including director Matthew Kalish’s 1.9 million-share forward sale contract. Our bear case lands at $28.53, essentially flat.

DraftKings Price Prediction 2026-2030 The 24/7 Wall St. price target of $32.87 and buy rating reflect a real but bounded thesis. Profitability is inflecting, the Predictions optionality is undervalued at current levels, and Wall Street’s $34.88 consensus backs us up.

The setup looks more attractive if DKNG holds the 50-day moving average near $24.44 and Predictions launches on schedule. The thesis weakens if MUPs decline another quarter or sportsbook hold percentage compresses on unfavorable outcomes. The stock can rally meaningfully from $28.79, but doubling to $57 by December is not our base case.

Year 24/7 Wall St. Price Target 2026 $32.87 2027 $36.50 2028 $39.75 2029 $42.10 2030 $44.69 These projections assume DraftKings continues executing on margin expansion and Predictions ramps as guided. Material upside or downside could come from iGaming legalization in major states like New York or California, or from regulatory friction around CFTC event contracts.

States and the federal government may be battling over who has the power to regulate prediction markets, but the companies building them are chugging along as the platforms continue to experience huge growth.

The Commodity Futures Trading Commission and six states across the country are in lawsuits over who has the jurisdiction to develop regulations on event contracts. Seventeen states in total are challenging companies with prediction markets — like Kalshi, Polymarket, Coinbase and Robinhood — and one has moved to ban them entirely. 

States are arguing that they have the ability to regulate these platforms due to their sports businesses, which they say are equivalent to gambling. Sports event contracts make up the majority of volume on prediction markets. However, the CFTC argues its right to regulate swaps and derivatives places all of these contracts under its jurisdiction. 

Congress is also stepping in with its own plans. House Oversight and Government Reform Committee Chairman James Comer told CNBC's "Squawk Box" on Friday that he is seeking information from Kalshi and Polymarket's CEOs on their internal efforts to regulate insider trading.

But legal uncertainty isn't halting the confidence to invest in growing these platforms, based on comments from private companies' leadership and private ones' valuations. 

"There's a lot of noise around the legal position-setting prediction markets," said Flutter Entertainment CEO Jeremy Peter Jackson in its earnings call earlier this month. Flutter owns FanDuel Predicts. "Until we get through and understand ultimately what the Supreme Court says, I think we're going to live with this uncertainty."

Jackson said his company will continue to invest in market-making on third-party prediction market platforms, a new strategy it unveiled in its last earnings report, despite the legal questions.

DraftKings CEO Jason Robins said on a May earnings call that he sees the investment in the company's prediction market platform as a long-term one. 

"Obviously, there's always the chance that something regulatory wise or other changes, but assuming a consistent environment to what we see today, I expect that we'll continue to invest in 2027."

Legal questions aren't slowing down private company growth either. Kalshi said its valuation is now $22 billion after a recently announced funding round, rising from $11 billion in December. Polymarket's reportedly $15 billion valuation is up from $9 billion in October. 

Terrence Duffy, CME Group CEO — which helped develop FanDuel Predicts — said on an earnings call last month that while the legal fuss is over sports, other event contracts like on economics, politics and financial predictions are under less scrutiny. That's why he thinks they're growing. Bernstein estimates sports contracts will make up only about 30% of volumes by 2030. 

While he disagrees with the states, Robinhood CEO Vlad Tenev said he understands their frustrations. 

"I would love it if the states didn't have concerns, but it's also … not irrational, right?" he said on Robinhood's April earnings call. "This is a jurisdictional dispute … and this is something that'll play out in the coming years."

Disclosure: CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment.

DraftKings (DKNG) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.