Report
DraftKings shares slide more than 26% after profit outlook cut
DraftKings says its planned $650 million to $700 million prediction-market investment in 2026 will cut into profits.
TLDR
The company lowered its 2026 adjusted EBITDA forecast, a profit measure excluding interest, taxes, depreciation and amortization, to $175 million to $275 million from $700 million to $900 million. The stock fell more than 26% during November 6 trading. Analysts raised concerns about regulatory risks and competition from Kalshi and Polymarket.
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