TLDR DraftKings posted mixed Q2 2026 results, missing profit estimates but growing its player base CEO Jason Robins pushed back against Kalshi and Polymarket over claims about prediction market fairness DraftKings stock rose 8% Friday even after an earnings per share miss Flutter’s FanDuel trails DraftKings by up to a year in launching its own prediction exchange Wall Street analysts stayed mostly positive on DraftKings with price targets above the current stock price
DraftKings reported second quarter earnings this week that showed a mixed picture for the sports betting company. The results came as the business pushes deeper into prediction markets, a fast growing corner of the industry.
CEO Jason Robins appeared on CNBC’s Squawk Box the same morning the earnings call took place. He was asked about rising competition from Kalshi and Polymarket, two companies now valued above 20 billion dollars each.
Robins said DraftKings welcomes the competition. But he also pushed back on what he called a false narrative from rival companies.
He said some prediction market operators claim they have no stake in whether customers win or lose. Robins argued this isn’t true, since everyday users often trade against large institutional firms using advanced tools.
“Some of the companies out there are spinning narratives that just aren’t true,” Robins told CNBC. Kalshi’s CEO had not responded publicly as of this report.
$DKNG CEO @JasonDRobins weighs in on prediction markets:
“We just have to be careful,” he says. “Some of the companies out there are spinning narratives that just aren’t true, which I think does long-term harm to the trust of the industry.” https://t.co/19DIAn9V56 pic.twitter.com/ZD8ZFCfO3e
— Squawk Box (@SquawkCNBC) August 7, 2026
DraftKings Expands Its Prediction Business
DraftKings launched its own prediction market exchange, called DKeX, several weeks before the earnings call. The