DraftKings cuts 2026 outlook, citing prediction markets investment
DraftKings lowered its 2026 revenue guidance to $6.35 billion–$6.55 billion from $6.5 billion–$6.9 billion and cut its adjusted EBITDA outlook to $175 million–$275 million from $700 million–$900 million. The company said the lower outlook reflected a $650 million–$700 million investment in its prediction markets offering. Shares fell 20% to $18.77 in after-hours trading.