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More ... latest change: 2026-02-08
DraftKings (NASDAQ: DKNG — $21.2 billion) is on a mission “to make life more exciting by responsibly creating the world’s favorite real-money games and betting experiences.” DraftKings offers its millions of customers sports betting, including player-specific bets and parlays, fantasy sports leagues, and other traditional gaming options like lotteries and online casino games. Investors have viewed DraftKings and its main competitor, FanDuel, as an effective duopoly aggressively wooing players with signup bonuses in hopes of ultimately establishing a high-margin base of repeat customers. The Bear Cave believes that narrative is being disrupted by prediction markets like Kalshi, which often offer customers better odds with deeper order books. In short, The Bear Cave believes prediction markets are a real and growing headwind for DraftKings and will turn an effective duopoly into a competitive marketplace with DraftKings on the defensive.
2026-01-30 USD 27.51 2026-01-30 USD 27.51 2026-01-30 USD 27.51