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DKNGBearishDraftKings guidance cut & prediction-market loss estimatenews
Medium materiality6/10

DraftKings hit with downgrades as prediction market losses cloud outlook

Nov 9, 2026, 10:46 AM EST1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

The revenue and EBITDA guidance cuts are a direct downgrade to near-term top-line and profitability expectations; the disclosed ~$1B prediction-markets losses represent a material cash/earnings headwind and add execution and regulatory uncertainty that could further pressure future margins and cash flow.

AI summary

What happened, with direct paths to the underlying reporting

DraftKings cut 2026 core revenue guidance to $6.35–$6.55B, lowered adjusted EBITDA guidance to $175–$275M, and disclosed ~ $1B of expected prediction-market losses through 2027.

  • The company lowered its 2026 core revenue guidance to $6.35 billion to $6.55 billion (from $6.5 billion to $6.9 billion).
  • DraftKings cut its adjusted EBITDA guidance to $175 million to $275 million (from $700 million to $900 million).
  • The company said it expects about $1 billion of losses from prediction markets through 2027.

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