DraftKings

Novig achieved over $125 million in first-week trading volume. This opening-week total surpassed several rivals, including Kalshi and Polymarket U.S. Furthermore, the platform’s volume was higher than that of Underdog and DraftKings' DKeX.

A South Carolina lawyer is suing Polymarket and DraftKings, claiming they violate the state's 1912 sports betting ban by offering prediction markets as event contracts. The lawsuit, filed under a colonial-era law, accuses the companies of fueling gambling addiction and exploiting bettors through rigged systems. Similar past lawsuits against Kalshi and Robinhood were previously filed in the state.

A federal judge dismissed most claims against DraftKings in a California class action lawsuit, including recovery of gambling losses and RICO claims, but allowed injunctive relief under California consumer laws. The court acknowledged the legal ambiguity around daily fantasy sports in California and ruled plaintiffs could pursue claims based on deceptive advertising and fraud.

Fanatics has acquired BGC's Water Street Labs and CX Clearinghouse, enabling the company to list and settle its own event contracts. This move mirrors efforts by sports-betting companies like DraftKings and FanDuel to establish a presence in prediction markets.

A federal judge has indicated a class action lawsuit against DraftKings, alleging illegal daily fantasy sports gambling in California, is likely to proceed. The plaintiffs claim DraftKings misrepresented the legality of its contests, causing economic injury, while the company argues users received the game they paid for. California's attorney general previously opined that such games are prohibited in the state, though the opinion is non-binding.

Toyota faces a class action lawsuit alleging it secretly tracks and sells user data without consent through website cookies and 'fingerprinting' technology. The lawsuit, filed under California's Invasion of Privacy Act (CIPA), claims the automaker violated privacy laws by de-anonymizing visitors' information. Similar lawsuits have recently targeted companies like ForbesMedia and the Los Angeles Times.

Phillies slugger Bryce Harper claims FanDuel used a Cameo video he recorded as a VIP reward for gambler Terry Thompson without his consent. Thompson, who wagered $18.5 million with FanDuel and lost $1.5 million, was given the personalized video, which Harper says he would not have created had he known FanDuel's intent. FanDuel and DraftKings are named in a lawsuit filed by Thompson.

The Pennsylvania Gaming Control Board is reviewing a video from Bryce Harper to FanDuel user Terry Thompson, who claims the video contributed to his gambling addiction and $1.5 million loss. Thompson alleges FanDuel and DraftKings enabled his addiction through promotional gifts, including Super Bowl tickets and hotel stays, via VIP host Bryttani Morgan. FanDuel stated it is committed to responsible gaming but did not comment on the specific review.

Michael Burry has invested in sportsbooks DraftKings and Flutter, anticipating regulatory restrictions on prediction markets due to competition from newer companies affecting the stocks of sportsbook operators.

The 2026 Genesis Scottish Open returns to The Renaissance Club in North Berwick, Scotland, co-sanctioned by the PGA TOUR and DP World Tour. Reigning champion Chris Gotterup aims to defend his title, while LIV Tour players Jon Rahm and Tyrrell Hatton join major champions Scottie Scheffler and Rory McIlroy in a competitive field. Betting picks highlight Ludvig Åberg, Tyrrell Hatton, and Nicolai Højgaard as top contenders.

The Supreme Court ruled 6-3 in Chatrie v. United States that 'geofence warrants' requiring tech companies to identify devices in a specific area constitute a constitutional search under the Fourth Amendment. The decision raises concerns about privacy in New York as it could impact surveillance technologies like license plate data and facial recognition, with experts warning about potential 'tireless and absolute surveillance' through expanded data access by law enforcement.

The 2026 John Deere Classic features a soft PGA TOUR field as top players prepare for overseas events. The article highlights investments in Jackson Koivun, a rookie pro making his debut through the PGA TOUR University, and four other golfers, including Jacob Bridgeman, Tom Kim, Denny McCarthy, and Emiliano Grillo, with specific betting odds and stakes.

Bernstein predicts that a rush in prediction-market infrastructure could drive a wave of M&A across consumer platforms. DraftKings' launch of DKeX aims to retain prediction-market revenue in-house amid industry consolidation in trading and betting platforms.

Meta plans to develop a prediction markets app using Instagram and Facebook users, potentially transitioning from a points system to real cash. The move could challenge digital sportsbooks like DraftKings and FanDuel, as prediction markets face criticism for opaque practices but have shown accuracy in election forecasting.

Meta is developing a prediction markets app called Arena, led by Mark Zuckerberg, which uses a points system instead of real money, leading to declines in DraftKings and Robinhood stocks.

Haley Sacks, known as Mrs. Dow Jones, claims the American dream is 'very dead' for millennials and Gen Z due to financial obstacles like student debt, inflation, and AI's impact on jobs. Young Americans are turning to side hustles and gambling, but Sacks warns against the latter as a losing proposition.

Prediction market platforms Kalshi and Polymarket face insider trading concerns that could undermine their growth and institutional credibility. The article argues these platforms have financial incentives to implement self-policing measures to become legitimate institutional finance backbones rather than remain retail gambling venues.

DraftKings is closing its Wrigley Field sportsbook due to Illinois' sports gambling tax structure, which imposes a 25-cent tax on the first 20 million internet-based bets annually and 50 cents thereafter. The closure will occur on May 31. The restaurant, bar, and sports entertainment establishment will remain open.

DraftKings received a rare sell rating due to threats from Kalshi and Polymarket, which may impact its growth. This rating is unusual and indicates potential challenges for DraftKings. The emergence of competitors like Kalshi and Polymarket poses significant risks.

DraftKings' profit exceeds estimates due to growth in sportsbook sales. The company's success is attributed to its expanding Sportsbook segment. This growth indicates a positive trend for DraftKings.

23-year-old Kamerin Stokes from Memphis, Tennessee, was sentenced to 30 months in prison for selling access to tens of thousands of hacked DraftKings accounts. The case highlights the legal consequences of cybercrime and unauthorized access to online platforms.