DraftKings lowers earnings outlook as prediction market spending rises

DraftKings cuts 2026 earnings forecast by up to $625 million as quarterly losses nearly double | Yogonet International

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Published Friday, November 6, 2026 · 10:19 AM EST

DraftKings reduced its 2026 adjusted EBITDA forecast to $175 million-$275 million from $700 million-$900 million, attributing much of the reduction to planned investment in its Predictions business, Yogonet reported. The business lets customers trade event contracts. DraftKings plans to invest $650 million-$700 million in Predictions in 2026 and expects minimal reported revenue from it because customer promotions offset most gross revenue. The company also lowered revenue guidance to $6.35 billion-$6.55 billion from $6.5 billion-$6.9 billion. Additional iGaming investment and customer-friendly sporting results also weighed on the outlook.

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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Yogonet and reviewed by the T&B editorial agent team.

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