Polymarket Works to Restore U.S. Trading Platform
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy DKNG?
Polymarket is taking steps to try to bring its main exchange back to the U.S., potentially supercharging an already fast-growing industry by letting Americans access the platform, Bloomberg's Lydia Beyoud, Isis Almeida and Nicola M White report, citing people familiar with the matter. Since running afoul of regulators in 2022, Polymarket has technically banned Americans from trading on its international platform while a U.S.-based alternative started by the company has failed to fully launch. In recent weeks though, the company has discussed lifting the prohibition on U.S.-based customers with officials at the Commodity Futures Trading Commission, some of people said. It is unclear whether the CFTC will grant the request, the authors add.
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Analyst Views on DKNG
Wall Street analysts forecast DKNG stock price to rise
29 Analyst Rating
23 Buy
6 Hold
0 Sell
Strong Buy
Current: 23.320
Low
30.00
Averages
42.69
High
53.00
Current: 23.320
Low
30.00
Averages
42.69
High
53.00
About DKNG
DraftKings Inc. is a digital sports entertainment and gaming company. It provides users with online and retail sports betting (together, Sportsbook), online casino (iGaming) and daily fantasy sports product offerings, as well as digital lottery courier, media, and other product offerings. Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C., and in Ontario, Canada. It operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states under its Golden Nugget Online Gaming brand. It owns Jackpocket, a digital lottery courier app in the United States. It is both an official daily fantasy and sports betting partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA. It also owns and operates DraftKings Network, a multi-platform content ecosystem.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Open Livestream Event: The panel discussion will take place from 2:30 to 3:30 p.m. PDT and will be accessible via a free public livestream, aimed at attracting a broader audience to DraftKings' innovations and market strategies.
- Company Background: Founded in 2012 and headquartered in Boston, DraftKings is the only U.S.-based vertically integrated sports betting operator, with operations in 30 states and Ontario, Canada, showcasing strong market penetration and business diversity.
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See More
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See More
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- Profitability Improvement: The company has achieved profitability on an adjusted EBITDA basis, and as incremental revenue growth occurs, the bottom line is expected to be significantly impacted, especially with its adtech business poised to become a crucial segment of overall operations.
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See More
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- Executive Participation: DraftKings President of Operations and Co-Founder Paul Liberman will participate in the Milken Institute Global Conference on May 4, discussing 'The Future of Decision Intelligence,' which is expected to enhance the company's visibility and influence in the industry.
- Open Livestream Event: The panel discussion will take place from 2:30 to 3:30 p.m. PDT and will be accessible via a free public livestream, aimed at attracting a broader audience to DraftKings' innovations and market strategies.
- Company Background: Founded in 2012 and headquartered in Boston, DraftKings is the only U.S.-based vertically integrated sports betting operator, with operations in 30 states and Ontario, Canada, showcasing strong market penetration and business diversity.
- Diverse Business Model: DraftKings not only offers a daily fantasy sports platform but also operates iGaming in five states and Ontario, demonstrating its comprehensive positioning in the digital sports and gaming sector, further solidifying its market leadership.
See More
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- Acquisition Impact: Genius Sports' stock has declined nearly 60% over the past year primarily due to a dilutive $1.2 billion acquisition of Legend, which was financed through debt, increasing financial pressure on the company.
- Market Outlook: Despite challenges, analysts project Genius' revenue to grow at a 20% CAGR from $670 million to $1.17 billion between 2025 and 2028, indicating significant future growth potential.
- Profitability Shift: Genius is expected to turn profitable this year, with net income projected to grow at a 165% CAGR from $24 million to $165 million over the next two years, signaling a transition towards a profitable business model.
- Data Service Potential: While Genius currently relies on data sales to over 300 sportsbooks, it could evolve into a major data provider for prediction markets if regulators mandate the use of official sports data, thereby enhancing its market position.
See More
Genius Sports Shows Optimistic Future Potential
- Stock Price Decline: Genius Sports' stock has plummeted nearly 60% over the past year, primarily due to a dilutive and debt-driven $1.2 billion acquisition of Legend, compounded by steeper-than-expected losses in recent quarters.
- Potential in Prediction Markets: Although Genius lacks direct ties to prediction markets like Kalshi and Polymarket, its role as a reliable data provider could become crucial as these markets expand, potentially driving future growth for the company.
- Revenue Growth Expectations: Analysts project Genius' revenue to grow at a 20% CAGR from $670 million to $1.17 billion between 2025 and 2028, with profitability expected this year and net income anticipated to surge at a 165% CAGR from $24 million to $165 million over the next two years.
- Market Valuation Potential: With a market cap of $1.1 billion and a valuation of 1.4 times this year's sales, Genius could see significant stock price appreciation if revalued as a high-growth entity with substantial exposure to sports betting, AI software, and prediction markets.
See More
Bipartisan Legislation Boosts Flutter and DraftKings Amid Prediction Market Regulation
- Legislative Impact: California Democrat Adam Schiff and Utah Republican John Curtis are set to introduce legislation aimed at regulating prediction market entities like Polymarket and Kalshi, preventing them from listing contracts for sporting events and casino-style games, which is expected to positively impact the market performance of Flutter Entertainment (FLUT) and DraftKings (DKNG).
- Competition Landscape Shift: If passed, the bill would significantly alter the competitive landscape of the U.S. online gaming market by removing prediction markets as an alternative, potentially allowing FanDuel (FLUT) and DraftKings (DKNG) to capture a more favorable market position and increase their market share.
- Regulatory Status Utilization: Prediction markets have leveraged their regulatory status with the Commodity Futures Trading Commission (CFTC) to bypass state gaming laws, limiting the expansion of FanDuel (FLUT) and DraftKings (DKNG); successful legislation would enable these companies to better control the market.
- Positive Market Reaction: Shares of Flutter Entertainment (FLUT) and DraftKings (DKNG) rose following the legislative news, reflecting investor optimism regarding the potential changes in market competition dynamics and indicating a favorable impact on the businesses of both companies.
See More
DraftKings Plans Alberta Launch for Online Sportsbook and Casino
- Alberta Launch Plan: DraftKings intends to launch its online sportsbook and casino products in Alberta on July 13, 2026, pending approval from the Alberta Gaming, Liquor and Cannabis Commission, marking its second province in Canada and expanding its North American footprint.
- World Cup Timing: The launch coincides with the 2026 World Cup, and Greg Karamitis, Executive VP, highlighted this as an exciting moment for Alberta sports fans to engage with their platform, potentially driving significant user engagement.
- Pre-registration Initiative: Eligible residents in Alberta can pre-register for DraftKings Sportsbook and Casino, indicating proactive market engagement aimed at enhancing user retention and market share ahead of the launch.
- Ongoing Expansion Strategy: This Alberta launch is part of DraftKings' broader strategy to expand across North America, increasing its operational provinces in Canada to two and showcasing its growth potential in the digital sports entertainment and gaming sector.
See More
Genius Sports: The Winner in Prediction Markets
- Market Potential: Genius Sports, dubbed the 'operating system of modern sport', provides essential data and analytics for sports wagering and prediction markets, and despite a 60% drop in stock price over the past year, its business model shows strong growth potential as prediction markets rise.
- Profitability Improvement: The company has achieved profitability on an adjusted EBITDA basis, and as incremental revenue growth occurs, the bottom line is expected to be significantly impacted, especially with its adtech business poised to become a crucial segment of overall operations.
- Acquisition Impact: Genius announced a $900 million acquisition of sports media company Legend, which is expected to boost adjusted EBITDA from $190 million to $320 million and increase operating margin from 23% to 30%, greatly enhancing the company's profitability.
- Future Earnings Outlook: Analysts forecast earnings per share to reach $0.28 by 2027 and $0.60 by 2028, and with the stock currently trading near $4.50, there is substantial rebound potential for Genius Sports, making it an attractive long-term investment opportunity.
See More
