DraftKings said it plans to offer crypto-to-cash deposit options for its sportsbook in Illinois, Kentucky, New Hampshire and Vermont. Customers would convert cryptocurrency into traditional currency for deposits; the company has not confirmed which cryptocurrencies it will support.
DraftKings’ planned payment option could affect sportsbook deposit processes in four state markets.
Quarter ended 30 September 2026
The day’s most important stories, free. One email a day.
DraftKings lowered its full-year 2026 revenue guidance to $6.35 billion-$6.55 billion, from $6.5 billion-$6.9 billion previously, and reported a third-quarter adjusted EBITDA loss of $317 million. The company said more than 1.6 million customers had used its predictions offering year-to-date and expected 2026 predictions investment of at least $650 million; its shares fell about 22% in Thursday after-hours trading after the results.
DraftKings lowered its 2026 revenue guidance to $6.35bn–$6.55bn from $6.5bn–$6.9bn. It reported a third-quarter adjusted EBITDA loss of $317m, compared with a $126m loss a year earlier.
DraftKings CEO Jason Robins defended the company’s planned prediction-markets investment on its third-quarter earnings call. The company projects adjusted EBITDA investment of $900m to $1.05bn across 2026 and 2027, and Robins said customer acquisition costs could take about 41 months to recover if the Supreme Court bars sports event contracts in July 2028.
DraftKings plans to invest $900m to $1.05bn in prediction markets across 2026 and 2027, the company said in its third-quarter earnings release. The projected investment is measured in adjusted EBITDA.
DraftKings said in its third-quarter materials that it increased its 2026 adjusted EBITDA investment in Predictions by $50m to $700m. Its downside model assumes sports event contracts end on 31 July 2028 and that Predictions customers then generate 20% of current gross profit; the model extends payback from 18 months to 41 months.
DraftKings said it raised its 2026 adjusted EBITDA investment in Predictions by $50m to $700m and modelled the effect of sports event contracts ending on 31 July 2028. The downside model assumes Predictions customers would generate 20% of their current gross profit after sports contracts end, extending payback from 18 months to 41 months.
DraftKings sports operations director Johnny Avello said the Chicago Bears moved from +1400 to +1200 in Super Bowl futures after trading for Jeffery Simmons on 29 October. After Chicago’s 34-17 win over Seattle on 2 November, the Bears stood at +750, behind the San Francisco 49ers at +550 and Buffalo Bills at +600.
Flutter Entertainment chief executive Dan Taylor said on its 4 November earnings call that the company expects more clarity in the coming months on the economics of FanDuel Predicts. FanDuel recorded $119 million in trading volume in the third quarter; Flutter expects its market-making operation to generate $50 million in revenue and $40 million in adjusted EBITDA during 2026.
Dan Taylor, Flutter's chief executive, told the third-quarter earnings call on 4 November that the coming months should sharpen the company's view of how its prediction market business makes money. At issue is whether FanDuel Predicts can turn a profit by itself, or can only help recruit customers in states that could later permit online sports betting.