DraftKings Competition Grows as Prediction Markets Gain Support -- Market Talk

Dow Jones01-31

1445 ET - The new chair of the Commodity Futures Trading Commission is going all in on prediction markets - a move that investors see as a threat to DraftKings. DraftKings' stock fell 8% to $27 on Friday after CFTC Chair Michael Selig said he would retract a rule proposal prohibiting political and sports-related events contracts (aka prediction markets). DraftKings launched a prediction markets product in December, but investors and analysts see prediction markets as increasing competition for the betting industry. Stifel analysts cut DraftKings price target by $2 to $44. They note that weekly online sports betting handle was soft in December, fueling fears that prediction markets are eating into online sports betting demand. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

January 30, 2026 14:45 ET (19:45 GMT)

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