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SEC orders DraftKings to pay $200,000 over investor disclosures

Enforcement & compliance

The US Securities and Exchange Commission said DraftKings agreed to pay a $200,000 civil penalty to settle charges over information shared on its chief executive’s social media accounts. The SEC said the posts appeared on 27 July 2023, before the company had published its second-quarter results, and the information was not publicly disclosed until seven days later. DraftKings agreed to cease and desist and provide Regulation FD training to relevant employees, without admitting or denying the findings.

The order requires DraftKings to pay a penalty and change training for employees handling corporate communications.

End-of-day close DraftKings (DKNG), USD, to 14 November 2024
Story date16 August 202414 November 2024

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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DraftKings CEO says operator is level with FanDuel in US sports betting

DraftKings chief executive Jason Robins said the operator was roughly level with FanDuel for US sports betting in the third quarter. DraftKings reported $13.9bn in sports consumer volume, including sportsbook and prediction-market activity, while Flutter reported about $12bn in US sportsbook handle; Citizens analysts put DraftKings ahead across 13 states and Washington, DC, in September, with 37.4% handle share against FanDuel’s 34.2%.

DraftKings was essentially tied with FanDuel for the sports betting industry’s top spot this quarter, chief executive Jason Robins said.

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