Seeking Alpha reiterated a sell rating for DraftKings (DKNG) due to rising competition from prediction platforms like Polymarket and Kalshi. Analysts report weakening handle trends and a decline in active players despite the recent launch of the company's super app.
DraftKings shares have significantly underperformed year-to-date following a disappointing first-quarter earnings report. The company is also facing mounting tax headwinds in several key states.
Retail operations will scale back as the company ceases in-person betting at its Wrigley Field sportsbook on May 31, 2026. This move highlights broader concerns regarding the firm's ability to maintain its current market share.