DraftKings Stock Plunges 21%: Are Prediction Markets a Threat?

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DraftKings shares plunged 21.30% on Friday, November 6, 2026, after the sports-betting operator sharply reduced its full-year profit forecast to fund an expensive expansion into prediction markets. Nasdaq-listed DraftKings (DKNG) closed at $18.51, down from $23.52 the previous session, with approximately 69.9 million shares changing hands. The selloff followed the company’s November 5 third-quarter earnings …