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Benzinga
Benzinga
Business
Henry Khederian

DraftKings (DKNG) Stock Pressured By Bear Cave Report On Growing Prediction Market Threat

DraftKings DKNG DraftKings Inc Kalshi the Bear Cave Benzinga Edge
DraftKings logo

Shares of DraftKings Inc (NASDAQ:DKNG) are trading off session highs Thursday following a new report from The Bear Cave highlighting a growing competitive threat from prediction markets.

What To Know: The report posits that platforms like Kalshi are disrupting the duopoly held by DraftKings and Flutter Entertainment PLC’s (NYSE:FLUT) FanDuel by offering better odds and deeper order books, putting DraftKings on the defensive.

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