DraftKings Slashes 2026 EBITDA Outlook Amid Prediction-Market Spending

DraftKings cut its 2026 adjusted EBITDA outlook by nearly 72% at the midpoint as it funds a prediction-markets push, while its quarterly net loss widened to $469 million. The sports betting company now expects 2026 adjusted EBITDA of $175 million to $275 million, down from $700 million to $900 million. Its revenue forecast fell to $6.35 billion to $6.55 billion from $6.5 billion to $6.9 billion. DraftKings expects its prediction-markets business to reduce 2026 adjusted EBITDA by $650 million to $700 million, including an impact of $175 million to $225 million in the fourth quarter.

Source: TokenPost