DraftKings said co-founder and president Matt Kalish will leave his executive role on 31 March 2026, while remaining a board director. The company said the transition was mutually agreed earlier in November; its filing did not disclose the financial terms.
Kalish’s departure changes DraftKings’ executive leadership while he remains on its board.
Quarter ended 30 September 2026
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Polymarket is preparing to introduce parlay-style sports contracts in the US, describing them in a filing with the Commodity Futures Trading Commission as Combinatoric Athletic Outcome Contracts. The report says Kalshi’s parlay volume reached $1.2 billion in April, while Polymarket’s US-resident sports-market volume exceeded $22 million per day this month. DraftKings also launched parlays on its prediction-market platform earlier this month.
DraftKings agreed to pay $10 million to settle a class-action lawsuit over NFTs sold through its now-closed marketplace. The proposed class covers customers who bought NFTs from 11 August 2021 until entry of judgment; the suit had proceeded after a federal judge ruled that the plaintiffs’ claims met the Howey Test threshold.
DraftKings reportedly notified affected employees of staff cuts the week before its third-quarter results; the company declined to comment on personnel decisions. The number of affected employees is unknown, while DraftKings reported third-quarter revenue of $1.33bn and lowered its 2026 adjusted EBITDA forecast to $175m-$275m.
DraftKings reportedly notified employees of job cuts last week, days before publishing its third-quarter results. The number affected is unknown, and the company did not disclose a figure. A company spokesperson declined to comment on personnel decisions.
Reportedly, UK Tote Group has named James Coxon as its next chief executive. He will replace chief executive Alex Frost, who steps down at the end of 2026. Frost will serve as an executive director in 2027 before becoming a non-executive director.
James Coxon is to become the next chief executive officer of the UK Tote Group. He takes over from Alex Frost, whose departure comes at the close of this year. Frost is to remain involved with the business as an executive director during 2027, after which he will move into a non-executive director post.
Altenar appointed Mitchell Harrison as sales director, the company said. Harrison will focus on expanding the sportsbook technology provider’s presence in Europe and North America, drawing on more than 20 years of sales and business development experience, including eight years in iGaming and sports betting.