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What DraftKings (DKNG)'s Costly Predictions Pivot Means For Shareholders
In recent months, DraftKings has shifted significant resources into its new Predictions platform, accepting higher costs and thinner margins while acknowledging limited near-term revenue visibility and regulatory uncertainty around event contracts.
This pivot highlights a tension between DraftKings’ push to build a “Super App” around sports, culture, and politics prediction markets and investors’ concerns about whether the company can sustain profitability amid rising competition and state...