News

Sportsbooks are using federal exchanges to offer sports contracts in states where their own books are banned.

By Dawn Kopecki NEW YORK, July 28 (Reuters) - DraftKings, FanDuel and other online sports betting companies have ramped up election spending on the U.S. midterms to at least $72 million so far, the

(Bloomberg) -- Prediction-market trading has surged during a blowout World Cup, far outpacing the growth at traditional sportsbooks and driving home the competitive threat that companies like Kalshi now pose to the sports-gambling industry. Most Read from BloombergUS Strikes Iran to ‘Punish’ It for Attack That Killed 2 TroopsFCC Near Rulings Against Disney Over ‘The View,’ TV LicensesThousands of Trucks Haul Iraq’s Oil Through Syria in Sign of Hormuz LegacyTaylor Farms Pulls Mexican Lettuce as P

(Bloomberg) -- Americans using prediction markets to bet on the World Cup may face a lighter tax burden than peers wagering through sportsbooks thanks to tax breaks aimed at investments.Most Read from BloombergLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71OpenAI Engineer's 'LOL' Moment Set Stage for Legal Fight With AppleUS Launches Fresh Iran Strikes as Tehran Declares Hormuz ClosedGates Heir's Shopping App Claimed Sales It Didn't DriveApple Sues OpenAI for Trade Secret Theft in Pivo

(Bloomberg) -- Americans using prediction markets to bet on the World Cup may face a lighter tax burden than peers wagering through sportsbooks thanks to tax breaks aimed at investments.Most Read from BloombergLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71OpenAI Engineer’s ‘LOL’ Moment Set Stage for Legal Fight With AppleUS Launches Fresh Iran Strikes as Tehran Declares Hormuz ClosedGates Heir’s Shopping App Claimed Sales It Didn’t DriveApple Sues OpenAI for Trade Secret Theft in Pivo

Find insight on prediction markets, Nvidia and more in the latest Market Talks covering technology, media and telecom.

Polymarket surpasses $1 billion in annual revenue shortly after U.S. exchange launch. DraftKings reveals predictions exchange.

Prediction market Kalshi is seeking to raise new capital at a valuation of $40 billion U.S. <...

The home of Michael Cohen, who won the ‘Millionaire Maker’ fantasy sports tournament multiple times, also has hidden rooms and a ‘creepy library’

(Bloomberg) -- The World Cup is turning prediction markets into a public ledger of million-dollar bets, exposing big wins and dramatic losses as the tournament attracts more money to the fast-growing industry.Most Read from BloombergRead the 14-Point Draft Memorandum Between the US and IranModi Warns of ‘Shortage of Trust’ Ahead of Trump MeetingTrump Blows Through His Iran Red Lines in Justifying Peace DealUS and Iran Delay Nuclear Talks as Lebanon Clashes WorsenUS Tells ASML It’s Concerned Chin

BofA Global Research spent this week quietly publishing something that matters a lot for sports betting investors. The firm’s June 11 gaming note argues that the FIFA World Cup, held on U.S. soil for the first time in over 30 years, is more than a seasonal payday for DraftKings (DKNG). It is a ...

(Bloomberg) -- Both US coasts were under heat advisories Friday on the eve of FIFA World Cup matches scheduled in California’s Bay Area, New Jersey and Massachusetts. The biggest weather threat may come Sunday in Philadelphia, where lightning and thunderstorms could disrupt play.Most Read from BloombergWhy Musk Raced to Take SpaceX Public in the World’s Biggest IPOSpaceX IPO Raises $75 Billion in Biggest Debut of All TimeSpaceX Shares Close 19% Higher After Historic $75 Billion IPOUS, Iran Edge

Bitcoin (CRYPTO: $BTC) and other cryptocurrencies barely budged over the past trading week as investors and traders...

Big markets for Super Group are all in on the World Cup, including South Africa, Germany, the U.K. and Spain.

CFTC moves to formalize prediction market oversight. Rule could reshape the battle between prediction markets and sportsbooks. Federal versus state authority remains unresolved. A proposal ...

The new prediction market rules would permit federally-regulated event contracts tied to the outcome of sporting events and individual player performance.

Jason Robins: Thank you, Mike. Adjusted EBITDA increased 64% year-over-year to $168 million. If not for our significant investment in Predictions and the launch of Sportsbook in Arkansas, our adjusted EBITDA would have exceeded $200 million.

(Bloomberg) -- The talent at some of America’s hottest artificial intelligence companies often passes through Boston-area universities before heading west to build billion-dollar businesses in Silicon Valley. Massachusetts business and political leaders say California’s proposed tax on billionaires is an opportunity to change that.Most Read from BloombergSingapore Hands Byju's Founder His First Ever Jail TermIran’s Khamenei Says No Going Back for Middle East Rocked by WarTwo More Oil Supertanker

Billionaire hospitality mogul Tilman Fertitta is acquiring Caesars Entertainment for almost $6 billion, a merger that would create one of the largest casino companies in the world. Caesars became an iconic name after the opening of Caesar’s Palace on the Las Vegas Strip in 1966. Fertitta is the CEO of Fertitta Entertainment, a company that owns Las Vegas' Golden Nugget and chains like Rainforest Cafe and Morton's. Fertitta also owns the NBA team Houston Rockets, and he is the largest shareholder in Wynn Resorts as well as in DraftKings, the sports betting company.

Meridian Funds, managed by ArrowMark Partners, released its first-quarter 2026 investor letter for “Meridian Growth Fund”. A copy of the letter can be downloaded here. The US equity market started 2026 with volatility due to trade policy uncertainty and geopolitical risks. Initial optimism from domestic company confidence and the Federal Reserve easing waned following increased […]

DraftKings investors have been waiting for the company to prove that its online betting business can keep expanding while new growth bets start to take shape. In a Morgan Stanley note shared with TheStreet, analyst Stephen Grambling and his team lowered their DraftKings price target to $39 from ...

Pre-Market Stock Futures: Futures are trading higher on Thursday after another wild day on Wall Street, during which the major indices moved in different directions. Another round of disturbing inflation data hit the tape as the Producer Price Index for April came in at 1.4%, the largest move higher in four years, while Producer prices ... Here Are Thursday’s Top Wall Street Analyst Research Calls: Commercial Metals, Doximity, Draftkings, Hut 8, Illumina, Lowe’s, TeraWulf, Starbucks, Whirlpool,

DoubleDown Interactive (NASDAQ:DDI) reported higher first-quarter revenue and profit, with management pointing to growth from acquired businesses, a larger direct-to-consumer revenue mix in social casino and continued cash generation across the company. For the quarter ended March 31, 2026, the com

DraftKings (NASDAQ:DKNG) reported first-quarter 2026 results that exceeded management’s expectations, driven by continued strength in its core Sportsbook business and an increasing push into sports predictions. First-quarter results and updated cadence commentary Co-founder and CEO Jason Robins sai

The headline numbers for DraftKings (DKNG) give insight into how the company performed in the quarter ended March 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

DraftKings (DKNG) delivered earnings and revenue surprises of -6.98% and +0.12%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?

The online sports betting company posted a profit of $21.1 million on strong engagement from a growing roster of customers.

Earnings season marches on as investors will hear from big companies including McDonald's and CoreWeave. Data on the U.S. jobs market will also be watched closely, culminating in April nonfarm payroll numbers Friday.