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DraftKings Crashes As "Aggressive Prediction Investments" Drive EBITDA Outlook Cut

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DraftKings Crashes As "Aggressive Prediction Investments" Drive EBITDA Outlook Cut DraftKings shares crashed 24.5% in Friday's premarket trading after the sports betting operator slashed the midpoint of its 2026 adjusted EBITDA forecast to $225 million from $800 million. The mad dash into prediction markets overshadowed a 16% year-over-year increase in third-quarter revenue to $1.33 billion. " In just a few months, we have become the clear number three Predictions exchange by Total Volume ," CEO Jason Robins wrote in a letter to shareholders. BofA Securities gaming analyst Julie Hoover…

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    DraftKings Crashes As "Aggressive Prediction Investments" Drive EBITDA Outlook Cut

    DraftKings Crashes As "Aggressive Prediction Investments" Drive EBITDA Outlook Cut DraftKings shares crashed 24.5% in Friday's premarket trading after the sports betting operator slashed the midpoint of its 2026 adjusted EBITDA forecast to $225 million from $800 million. The...

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