DraftKings is going all in on prediction markets.
During Friday morning’s earning call, DraftKings CEO Jason Robins said he expects to invest between US$200 million and US$300 million this year on predictions markets.
“A lot of that will be marketing, but some of that will be product technology investment as well,” Robins said. “What that means is that the rest of the business is going to do somewhere in the billion-plus range in Adjusted EBITDA this year, which we’re really excited about. That’s the latest thinking, but obviously we’ll assess the data, and as always, we’ll follow what the numbers say.
