Key Highlights

● DraftKings closed at $19.59 on Tuesday, September 29, down 7.42% from $21.16, just above its 52-week low of $19.55.

● Flutter halted Brazil operations after the online betting ban took effect September 25, estimating a $70 million 2026 revenue loss.

● A House Oversight inquiry into insider trading on prediction-market platforms widened, with letters sent to several operators.

● At a September 22 conference, executives said prediction-market volume had risen sharply since July, alongside incremental customer-acquisition spending.

DraftKings Inc. (NASDAQ:DKNG) slid 7.42% on Tuesday, September 29, 2026, to close at $19.59, just above its 52-week low of $19.55 and down from $21.16 the session before. The online sports betting company fell with betting stocks across the group, while the Nasdaq Composite eased 0.09% to 26,797.54.

Brazil's Betting Ban Weighs on the Sector

Brazil's ban on online betting took effect on September 25. Flutter Entertainment (NYSE:FLUT), the owner of FanDuel, halted its operations in the country and estimated a revenue loss of about $70 million for 2026. Flutter shares fell about 7.2% on Monday, September 28. DraftKings has no exposure to Brazil, so its move followed the sector rather than a change in its own operations.

A House Inquiry Into Prediction Markets

Representative James Comer expanded a House Oversight Committee investigation into prediction-market platforms, sending letters to Hyperliquid Labs, Crypto.com and the parent company of PredictIt. The committee is examining whether the platforms are fulfilling their legal obligations and doing enough to identify and prevent insider trading. DraftKings was not named in the letters.

Spending on Prediction Markets

Prediction markets have become a strategic priority for DraftKings. At a conference on September 22, executives said prediction-market volume had risen sharply since July, with market breadth and customer engagement improving into the NFL season. They also pointed to incremental investment and customer-acquisition spending around the product and a meaningful EBITDA investment in 2026. Regulatory uncertainty around prediction-market economics remains part of the picture.

A Session Near the 52-Week Low

DraftKings' trailing twelve-month revenue was $6.22 billion, up 15%, and the next quarterly report is expected on November 5. The shares closed about 54% below their 52-week high of $42.80 and only $0.04 above the low of $19.55.