DraftKings and FanDuel Stocks Extend Losing Streak as Prediction Markets Gain Steam
1. DraftKings shares fell 5.45% amid stiff competition from prediction markets. 2. Prediction markets gained attention after NCAA March Madness; investors worry about competition. 3. Kalshi reported record trading volume, signaling investor interest shift from sportsbooks. 4. DraftKings NY handle declined 8.9%, while Kalshi's increased by 31%. 5. Lawsuits against prediction markets affect regulatory landscape impacting sports betting sector.