DraftKings plans to invest more in its DKeX prediction market, where Bernstein estimates consumer trading volume could reach $1 billion by December, even as Kalshi led reported NFL opening-week sports volume with 76%.
DKeX accounted for 3% of that sports trading, according to Needham data cited in the report. The figures underline the gap DraftKings must close: DKeX ranked third overall in prediction-market trading volume in the third week of September, behind Kalshi and Polymarket.
DKeX growth meets a tougher benchmark
DraftKings has planned to increase its investment in prediction markets in the second half of 2026. Bernstein’s $1 billion figure is an estimate of consumer trading volume, not revenue, and investors will be watching whether activity holds through football season and the upcoming basketball and hockey seasons.
The company’s prediction-market push comes as its stock faces pressure. DraftKings shares fell more than 19% in September and 11% over the week covered in the report, though they rose 0.3% overnight ahead of Wednesday, September 30.
DraftKings CFO Alan Ellingson said during the company’s second-quarter earnings that its core business remained on track to generate approximately $1 billion in adjusted EBITDA this year, giving it financial flexibility to invest in what he described as the opportunity in Predictions.
Regulatory scrutiny adds uncertainty
The broader betting sector is also dealing with disruption abroad. Brazil’s ban on online sports betting took effect on September 25; Flutter Entertainment halted its betting and iGaming operations there and estimated that a prolonged shutdown could cost about $70 million in 2026 revenue.
In the U.S., House Oversight Committee Chair James Comer sent letters to the CEOs of Hyperliquid Labs, Crypto.com and Aristotle Exchange, which owns PredictIt. The committee is investigating whether the platforms meet legal obligations and do enough to identify and prevent insider trading, according to the report. That inquiry adds compliance uncertainty as prediction platforms compete for users.
Kalshi’s sports lead stands out
The overall ranking and the NFL figures measure different slices of the market: DKeX’s third-place position covered prediction-market trading in the third week of September, while Needham’s comparison focused on sports contracts during the NFL’s opening week. Kalshi’s reported 76% share in that sports data, against DKeX’s 3%, makes the competitive challenge particularly clear.
Stocktwits sentiment around DraftKings remained in “extremely bullish” territory, but individual user posts are opinions, not evidence that DKeX will meet Bernstein’s estimate. Broader prediction-market volume and differences in how platforms present contracts and sports data will help frame the contest; the near-term test for DraftKings is whether its trading activity can keep growing against Kalshi’s lead.
The post DKeX Trails Rivals as DraftKings Plans More Prediction-Market Investment appeared first on ReadWrite.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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