DraftKings shares extended their gains Wednesday after the company reported growing prediction market volume.
DraftKings stock opened at $28.02, up 13.1% from Monday’s close before the company released its May volume report. That report, along with positive response from CEO Jason Robins on LinkedIn, helped send shares up 11.3% Tuesday.
Robins also appeared at the Nasdaq Investor Conference with Jefferies on Wednesday, before the market opened. The roughly 30-minute discussion focused largely on prediction markets, though Robins hit familiar talkings points regarding long-term growth opportunities in both sports betting and online casino as well.
The market reaction benefited DraftKings’ top opponent, Flutter‘s FanDuel, too, as did the CFTC’s proposed regulations on prediction markets released Wednesday.
