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DraftKings launches prediction app in 38 US states as FanDuel launch nears

Deals & M&A

DraftKings launched its sports prediction app in 38 US states on Friday, while FanDuel’s launch was described as imminent by Truist Securities analyst Barry Jonas. Jonas said investors remained cautious amid outstanding court cases and said both companies believed their state sports-betting licences were not at risk.

The launches expose operators to unresolved legal questions affecting sports contracts and state sports-betting licences.

End-of-day close DraftKings (DKNG), USD, to 4 February 2026
Story date6 November 20254 February 2026

Latest reported results

DraftKings NASDAQ: DKNG

Quarter ended 30 September 2026

Revenue
USD 1.33bn10-Q filing 0001883685-26-000041
Operating income
−USD 493.1m10-Q filing 0001883685-26-000041

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Deals & M&A

Prediction market volume on 2026 US midterms nears $1bn

Trading in 2026 US midterm election contracts passed $750m in notional volume by 15 October, citing CNN. That is nearly eight times the $92.4m traded on Congressional and state races in 2024. The Anti-Corruption Data Collective counts over 21,000 midterm markets across Kalshi and Polymarket and projects volume could reach $1.6bn once the races conclude.

Trading in contracts on the 2026 US midterm elections had passed $750m in notional volume by 15 October, CNN reported, in an account. The figure covers the new prediction market platforms. The Anti-Corruption Data Collective counts more than 21,000 midterm offerings on Kalshi and Polymarket, and the research group projects that volume on the races could reach $1.6bn once the midterms are complete.

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