DraftKings stock rises over 7% as prediction‑market volume surges

DraftKings’ shares jumped 7.6% to $26.66 on June 9 after the company reported rapid growth in its DraftKings Predictions business. In May, the prediction‑market platform processed $3.1 billion in trades, a 34% increase from the previous month, while consumer trading volume reached $1.3 billion, up 24% from April. The firm has integrated predictions into its flagship app, cutting customer‑acquisition costs for the segment by more than 80% in April. CEO Jason Robins said the company is "playing offense" by expanding ways customers can engage with its sports‑betting experiences.

First‑quarter results also showed broader strength: revenue rose 16.8% to $1.65 billion, adjusted EBITDA increased 63.7% to $167.9 million, and the company posted a net income of $21.1 million versus a loss of $33.9 million a year earlier. Analysts view the prediction‑market segment as a potential new revenue source that could complement traditional sportsbook and iGaming operations, especially in U.S. states where conventional sports betting remains restricted.