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DraftKings shares fall as much as 29 percent on Friday as its CEO defends 1 billion dollars in planned prediction market spending, InGame reports
- DraftKings shares fall as much as 29 percent on Friday as its CEO defends 1 billion dollars in planned prediction market spending, InGame reports — InGame reports DraftKings plans to spend 650 million to 700 million dollars on prediction markets this year and 250 million to 350 million dollars next year, cutting its 2026 adjusted EBITDA guidance to between 175 million and 275 million dollars. CEO Jason Robins said the spending should still pay back even if sports event contracts are banned. (InGame)
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