DraftKings CEO sees 'extraordinary' upside as prediction market rivalry intensifies

DraftKings prediction markets have expanded into California, Texas, and Florida, three states where its sportsbook app is unavailable, setting up direct competition with Kalshi and Polymarket. CEO Jason Robins estimates only about 3% of DraftKings sports betting customers in these states also use Kalshi, viewing this low overlap as a ceiling for existing users and an opportunity to attract new ones. Kalshi recently raised $1 billion at a $40 billion valuation, while DraftKings leverages its marketing data and pricing models to compete against the crypto-based Polymarket.