DraftKings CEO Defends $1B Prediction Markets Bet Despite Supreme Court Risk
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Jason Robins says DraftKings can recover customer acquisition costs even if sports contracts disappear in 2028, as analysts question its aggressive spending. DraftKings CEO Jason Robins defended the company’s plans to invest approximately $1 billion in prediction markets over two years on the third-quarter earnings call. He argued on Friday that the business could deliver acceptable returns even if a future Supreme Court ruling forces sports event contracts off the market. His comments came after DraftKings shares plunged more than 20% in after-hours trading on Thursday, as investors weighed the cost of its aggressive expansion into the sector.
Source: Gambling Insider
