DraftKings

Corporate brand

American digital sports entertainment and gambling company offering daily fantasy sports, online sports betting, iGaming, lottery products, and sports-media services.

Last updated November 3, 2026

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Overview

DraftKings is an American digital sports entertainment and gambling company headquartered in Boston, Massachusetts. It began in 2012 as a daily fantasy sports provider and developed into one of the largest U.S. online sports-betting and iGaming brands. Its core services include daily fantasy contests, online and mobile sportsbooks, retail sports betting in authorized jurisdictions, casino-style internet gaming, lottery-ticket courier services, betting information, and newer prediction-market products. The company was founded by Jason Robins, Matthew Kalish, and Paul Liberman, former Vistaprint employees. Its first product was a head-to-head daily fantasy baseball contest launched around Major League Baseball's opening day in 2012. DraftKings grew by combining a technology platform with substantial sports-league, team, media, and advertising partnerships. Major League Baseball invested in the company in 2013, making it the first major U.S. professional sports league to invest in a daily fantasy sports operator. DraftKings later formed official relationships with the National Hockey League and MLB and entered prominent media agreements, including a major advertising and content-integration arrangement with ESPN and an investment and advertising agreement involving Fox Sports. Its early expansion was driven partly by acquisitions. In 2014, DraftKings acquired rival DraftStreet and purchased assets of StarStreet, increasing its user base and strengthening its position in daily fantasy sports. The company also sought international growth, launching daily fantasy soccer in the United Kingdom in 2016 after obtaining authorization from the UK Gambling Commission and later securing a Maltese skill-games license. Regulatory uncertainty, however, limited the scale of its international ambitions. DraftKings' business changed materially after the U.S. Supreme Court invalidated the federal Professional and Amateur Sports Protection Act in 2018. The ruling allowed individual states to authorize sports wagering, and DraftKings launched its first legal online sportsbook in New Jersey in August of that year. It subsequently expanded sportsbook and iGaming operations across states with enabling legislation, while maintaining daily fantasy products in additional jurisdictions. In April 2020, DraftKings became a public company through a reverse merger involving Diamond Eagle Acquisition Corp., a special-purpose acquisition company, and SBTech Global Ltd., a sports-betting technology provider. The combined business retained the DraftKings name and began trading on Nasdaq under DKNG on April 24, 2020. The transaction gave DraftKings greater access to capital and betting technology, while also generating scrutiny concerning allegations about SBTech's historical business relationships and operations. The company has broadened its offering through acquisitions. In 2021, it purchased VSiN, a sports-betting radio and digital-media network, although VSiN was sold back to the Musburger family in 2024. DraftKings acquired Golden Nugget Online Gaming in 2022, adding casino customers, technology, and brand assets, and acquired lottery courier company Jackpocket in 2024 for a reported $750 million. In 2025, it announced plans to acquire prediction-platform company Railbird and launched DraftKings Predictions, a product built around contracts tied to sporting and other real-world outcomes. DraftKings operates in a heavily regulated sector and has faced investigations, lawsuits, administrative penalties, consumer-protection allegations, privacy claims, competition concerns, and criticism of promotional practices. Its 2023 use of the September 11 anniversary in a New York sports betting promotion prompted a public apology and withdrawal of the campaign. In 2024, the Securities and Exchange Commission fined the company $200,000 over Regulation Fair Disclosure issues involving the early dissemination of revenue-growth information through the CEO's personal social-media accounts. DraftKings also faces continuing regulatory and reputational challenges concerning responsible gambling, advertising, account closures, payment methods, data privacy, and the legal treatment of prediction markets.

History

DraftKings was established in 2012 by Jason Robins, Matthew Kalish, and Paul Liberman. The founders initially operated the business from Liberman's home and launched a one-on-one daily fantasy baseball product timed to Major League Baseball's opening day. The company differentiated itself from traditional season-long fantasy sports by offering short-duration contests with frequent payouts. In 2013, Major League Baseball invested in DraftKings, becoming the first U.S. professional sports league to invest in a daily fantasy operator. By 2014, the company reported substantial growth in fantasy football, baseball, basketball, and hockey. It acquired DraftStreet in July 2014 and purchased assets of StarStreet shortly afterward, consolidating its position in the early daily fantasy market. DraftKings also expanded its sports-business relationships: it signed a two-year official daily fantasy partnership with the NHL in 2014 and a comparable agreement with MLB in 2015. These deals supported co-branded contests, digital content, venue advertising, and team-level fan engagement. Marketing spending became a defining feature of DraftKings' growth strategy. In 2015, it announced a large advertising and content-integration agreement with ESPN and a major funding round involving Fox Sports, the Kraft Group, and Wellington Management. The Fox arrangement included a commitment to spend on advertising over several years. DraftKings also pursued overseas expansion, receiving a UK Gambling Commission license for pool wagering, opening a London presence, and launching daily fantasy soccer in the United Kingdom in February 2016. A later Maltese license was intended to support access to additional European markets where applicable. The company's rapid expansion coincided with a regulatory crisis for daily fantasy sports. In October 2015, a DraftKings employee inadvertently released contest-related data before an NFL slate and later won a large prize on rival FanDuel. An internal review concluded that the employee obtained the information after lineups had locked and could not have used it to gain an unfair advantage, but the incident led to investigations, public concern about contest integrity, and changes in the industry's regulatory environment. Idaho prohibited DraftKings and FanDuel from operating in the state in 2016, and the Massachusetts attorney general later reached settlements with both companies over alleged unfair and deceptive practices. DraftKings and FanDuel also proposed a merger in 2016, but the Federal Trade Commission challenged the deal on the grounds that it would create an overwhelming share of the U.S. daily fantasy market. The merger was abandoned in 2017. The U.S. sports-betting market opened substantially after the Supreme Court struck down the Professional and Amateur Sports Protection Act in May 2018. DraftKings entered the newly available market by launching an online sportsbook in New Jersey in August 2018. It then built a state-by-state sportsbook and iGaming business, subject to licensing, tax, advertising, responsible-gambling, and market-access requirements. This transition turned DraftKings from a primarily fantasy-sports company into a broader digital wagering platform. In April 2020, DraftKings completed a reverse merger with Diamond Eagle Acquisition Corp. and SBTech Global Ltd. The transaction made DraftKings publicly traded and supplied access to SBTech's sports-betting technology. Its shares began trading on Nasdaq under DKNG on April 24, 2020. The transaction also prompted criticism and allegations from Hindenburg Research concerning SBTech's historical business activities and alleged links to illegal gambling and organized crime; those claims were disputed and are presented here as allegations rather than established findings. DraftKings continued to diversify after becoming public. Michael Jordan joined as an investor and board adviser in 2020. In 2021, DraftKings acquired VSiN, a sports-betting media and analysis company, and entered a multiyear distribution arrangement for Dan Le Batard's sports and pop-culture podcast. It acquired Golden Nugget Online Gaming in 2022, adding online casino scale, and purchased lottery courier service Jackpocket in 2024. VSiN was sold back to the Musburger family in 2024. The company has continued to face scrutiny over marketing and compliance. In September 2023, it withdrew and apologized for a promotion that invoked the anniversary of the September 11 attacks. In 2024, the SEC fined DraftKings for allegedly communicating material nonpublic revenue information through the CEO's personal social-media accounts before an earnings release. Consumer and privacy lawsuits filed in 2024 and 2025 raised allegations involving problem-gambling practices, personal-data sharing, account closures, promotional conduct, and customer balances. DraftKings also established a corporate political action committee in 2025 and announced expansion into prediction markets, including a Railbird acquisition and the launch of DraftKings Predictions. Its present business remains dependent on regulated market access and on balancing aggressive customer acquisition with compliance and responsible-gambling obligations.

2025
DraftKings expands into prediction markets
[1]DraftKingsen.wikipedia.org
DraftKings announced a Railbird acquisition and launched DraftKings Predictions.
2024
DraftKings acquires Jackpocket
[1]DraftKingsen.wikipedia.org
The company expanded into lottery-ticket courier services through the Jackpocket acquisition.
2022
Golden Nugget Online Gaming acquisition is completed
[1]DraftKingsen.wikipedia.org
DraftKings added Golden Nugget's online casino operations and customers to its iGaming business.
2021
DraftKings acquires VSiN
[1]DraftKingsen.wikipedia.org
The acquisition expanded the company into sports-betting news, radio, and analysis.
2020
DraftKings becomes publicly traded
[1]DraftKingsen.wikipedia.org
A reverse merger with Diamond Eagle Acquisition Corp. and SBTech Global Ltd. made DraftKings a Nasdaq-listed company.
2018
DraftKings enters legal U.S. sports betting
[1]DraftKingsen.wikipedia.org
DraftKings launched its first legal online sportsbook in New Jersey after the Supreme Court ruling on federal sports-betting restrictions.
2017
Proposed DraftKings–FanDuel merger is abandoned
[1]DraftKingsen.wikipedia.org
The companies ended their proposed merger after FTC opposition and the prospect of litigation.
2016
DraftKings launches in the United Kingdom
[1]DraftKingsen.wikipedia.org
The company introduced daily fantasy soccer in the UK after receiving regulatory authorization.
2015
DraftKings signs major league and media partnerships
[1]DraftKingsen.wikipedia.org
The company expanded relationships with MLB, ESPN, Fox Sports, and other sports stakeholders.
2014
DraftKings acquires DraftStreet and StarStreet assets
[1]DraftKingsen.wikipedia.org
The acquisitions strengthened DraftKings' competitive position in daily fantasy sports.
2013
Major League Baseball invests in DraftKings
[1]DraftKingsen.wikipedia.org
MLB became the first major U.S. professional sports league to invest in a daily fantasy sports operator.
2012
DraftKings is founded and launches daily fantasy sports
[1]DraftKingsen.wikipedia.org
Jason Robins, Matthew Kalish, and Paul Liberman founded DraftKings and introduced a head-to-head daily fantasy baseball contest.

Products and positioning

A vertically integrated digital sports-entertainment platform that combines fantasy sports, regulated wagering, online casino products, lottery access, sports media, and prediction-based experiences under a major sports brand.

Daily fantasy sports · 2012
DraftKings Daily Fantasy Sports
DraftKings' original product allows users to assemble fantasy lineups for individual games, tournaments, and short contest periods rather than managing a team for an entire season. Its formats have covered major U.S. sports and soccer, with entry-fee contests, promotional free contests, and prizes subject to applicable state rules. The product established the brand's early customer base and remains an important part of its sports-entertainment identity.
Online and retail sports betting · 2018
DraftKings Sportsbook
DraftKings Sportsbook provides pre-match and in-play wagering on authorized sporting events through mobile, web, and, in some jurisdictions, retail channels. The service offers markets such as game outcomes, spreads, totals, player statistics, and combination wagers. Availability, permitted bet types, and promotional rules vary by state or country because sports betting is licensed and regulated on a jurisdiction-by-jurisdiction basis.
iGaming
DraftKings Casino
DraftKings Casino is the company's online casino offering in jurisdictions that authorize internet gaming. It provides digital casino games and is supported by DraftKings' account, payments, promotions, and player-management infrastructure. The business was strengthened by the acquisition of Golden Nugget Online Gaming, which added online casino customers, brand assets, and market capabilities.
Lottery courier service
Jackpocket
Jackpocket is a lottery courier application acquired by DraftKings in 2024. It enables customers in eligible jurisdictions to order participation in supported state lottery drawings through a digital interface, subject to local rules and availability. The acquisition broadened DraftKings beyond sports and casino wagering into a lottery-access category with a different purchase and regulatory model.
Prediction markets · 2025
DraftKings Predictions
DraftKings Predictions is a platform for contracts connected to sporting events and other real-world outcomes. It represents the company's move toward prediction-market products, where users may buy and trade positions tied to defined results. Its availability and legal structure depend on evolving federal and state interpretations of gaming, derivatives, event contracts, and financial-market regulation.
Sports media
VSiN
VSiN was a sports-betting radio and digital-media network focused on wagering news, analysis, commentary, and programming. DraftKings acquired it in 2021 to deepen its media capabilities and provide content around sportsbook use. The company later sold VSiN back to the Musburger family in 2024, making the asset a former rather than current DraftKings offering.

Controversies

2025
Baltimore consumer-protection lawsuit
Baltimore sued DraftKings and FanDuel, alleging deceptive and unfair practices that targeted vulnerable gamblers. The allegations remained subject to litigation.
Source
2024
SEC Regulation Fair Disclosure penalty
The SEC fined DraftKings $200,000 over the early sharing of material revenue-growth information through the CEO's personal LinkedIn and X accounts before the company's official earnings release.
Source
2024
Consumer lawsuits involving gambling, privacy, and accounts
Separate lawsuits alleged that DraftKings encouraged a problem gambler's losses, shared users' personally identifiable information through tracking technology, and improperly terminated accounts or withheld balances. The cited material does not establish the allegations as proven.
Source
2023
September 11 promotional backlash
The company was criticized for using the anniversary of a national tragedy in a betting promotion. DraftKings withdrew the campaign and issued an apology.
Source
2021
Colossus Bets sues DraftKings over cashout patents
Colossus Bets filed a patent infringement lawsuit against DraftKings in the US District Court for Delaware over patents related to a cashout feature. Colossus Bets alleges ongoing infringement and said it would seek increased damages for willful and deliberate infringement; the source does not report a court determination.
Source
2020
Scrutiny of SBTech's historical activities
Hindenburg Research alleged that SBTech had connections to organized crime in Bulgaria and illegal gambling activities. These were allegations made in a short-seller report, not established findings in the cited material.
Source
2017
Massachusetts unfair-practices settlement
DraftKings and FanDuel each paid $1.3 million to settle allegations brought by the Massachusetts attorney general concerning unfair and deceptive practices before 2016.
Source
2015
Fantasy-contest data disclosure controversy
A DraftKings employee disclosed contest-related information before an NFL contest period and won a large prize on FanDuel. An internal review concluded that the information was obtained after lineups had locked and did not provide an unfair advantage, but the episode triggered attorney-general scrutiny and broader industry concern about contest integrity.
Source

2023September 11 anniversary promotion
United States
DraftKings promoted wagers involving New York teams using language connected to the anniversary of the September 11 attacks.
Outcome. After public backlash, the company removed the promotion and apologized.
Source
2015ESPN integration and advertising partnership
United States
DraftKings agreed to a multiyear advertising and content-integration arrangement with ESPN, including sportsbook and fantasy-sports visibility across television and digital properties.
Outcome. The relationship was curtailed amid legal uncertainty surrounding daily fantasy sports; ESPN withdrew from the broader arrangement in 2016 while continuing some paid advertising.
Source
2015Fox Sports advertising and investment arrangement
United States
Fox Sports participated in a DraftKings funding round that included a commitment for substantial advertising spending, linking the brand to a major sports-media network.
Outcome. The arrangement became subject to later ownership changes affecting Fox's stake after the acquisition of 21st Century Fox by Disney.
Source

Brand decisions

2025
Launch DraftKings PredictionsProduct launch
Background
Prediction markets offered DraftKings a potential adjacent category as the legal and regulatory treatment of event contracts continued to develop.
Action taken
DraftKings launched a platform for contracts tied to sports and other real-world outcomes.
Aftermath
The launch extended DraftKings' brand into prediction-based trading and created additional regulatory exposure.
Source
2024
Acquire JackpocketM&A
Background
DraftKings aimed to diversify its regulated digital-gaming portfolio beyond sports betting and casino products.
Action taken
DraftKings acquired lottery courier application Jackpocket.
Aftermath
The company gained a lottery-access business and a new customer-acquisition channel.
Reported acquisition price. $750 million (February 2024)
Source
2022
Acquire Golden Nugget Online GamingM&A
Background
DraftKings sought greater scale in online casino and iGaming markets.
Action taken
DraftKings completed the acquisition of Golden Nugget Online Gaming.
Aftermath
The transaction added casino customers, technology, and online-gaming capabilities.
Source
2020
Complete the Diamond Eagle and SBTech transactionM&A
Background
DraftKings needed public-market access and additional betting technology as it expanded beyond fantasy sports.
Action taken
The company completed a reverse merger involving Diamond Eagle Acquisition Corp. and SBTech Global Ltd.
Aftermath
DraftKings became publicly traded on Nasdaq under DKNG while retaining its name and executive management.
Transaction value. $3.3 billion (April 2020)
Source
2018
Enter regulated online sports bettingStrategy
Background
The Supreme Court's decision invalidating the federal sports-betting restriction created an opportunity for states to authorize sports wagering.
Action taken
DraftKings launched an online sportsbook in New Jersey and pursued state-by-state market access.
Aftermath
Sports betting became the company's principal growth direction alongside daily fantasy sports and later iGaming.
Source

Recent events

2026.10.23
Reported2026.10.23
DraftKings launches $200 new-customer offers[3]DraftKings推出200美元新客户优惠rockytopinsider.com
DraftKings is offering new Sportsbook customers $200 in Bonus Bets after a qualifying first bet and new Predictions customers $200 in Predictions Dollars after a qualifying first trade. Both offers also include three months of NBA League Pass.
2021.12.02
Reported2021.12.02
Colossus Bets sues DraftKings over cashout patents[2]Colossus Bets sues DraftKings over cashout patentsigamingbusiness.com
Colossus Bets filed a patent infringement lawsuit against DraftKings in the US District Court for Delaware over patents related to a cashout feature. Colossus Bets alleges ongoing infringement and said it would seek increased damages for willful and deliberate infringement; the source does not report a court determination.
2021.08.20
Reported2021.08.20
WWE announces SummerSlam sponsors[4]WWE宣布SummerSlam赞助商411mania.com
WWE announced sponsors for SummerSlam, including DraftKings, Victoria, 2K, Pure Life Purified Water, Cricket Wireless, C4 Energy, Credit One Bank and Wargaming.
2021.08.10
Reported2021.08.09
DraftKings agrees to acquire Golden Nugget Online Gaming[5]DraftKings同意收购Golden Nugget Online Gamingibtimes.com.au
DraftKings agreed to acquire Golden Nugget Online Gaming in an all-stock transaction valued at an estimated $1.56 billion. The deal was expected to be finalized in the first quarter of 2022.
2021.08.06
Reported2021.08.06
DraftKings raises revenue guidance[6]DraftKings 上调收入指引igamingbusiness.com
DraftKings increased its revenue guidance, as reported alongside its half-year results.
2021.06.29
Reported2021.06.29
Domino’s and DraftKings launch Carside Delivery challenge[7]Domino’s与DraftKings推出Carside Delivery挑战活动restaurantnewsrelease.com
Domino’s and DraftKings launched a customer challenge tied to Domino’s Carside Delivery nationwide performance. Participants could predict whether delivery to cars would take less than two minutes more or less than 80% of the time for a chance to share a $200,000 prize; the challenge ran through July 12, 2021.
2021.04.15
Reported2021.04.16
NFL announces sports betting partnerships with Caesars, DraftKings and FanDuel[8]NFL宣布与Caesars、DraftKings和FanDuel建立体育博彩合作关系chicago.suntimes.com
The NFL announced deals with Caesars Entertainment, DraftKings and FanDuel to make them official sports betting partners, including rights to use NFL trademarks and official league data and to integrate betting content into league media properties.
2021.04.05
Reported2021.04.05
DraftKings acquires BlueRibbon[9]DraftKings 收购 BlueRibbonen.globes.co.il
DraftKings announced that it had acquired Blue Ribbon Software Ltd., an Israeli company providing jackpot and gamification tools. Financial details were not disclosed.
2021.03.29
Reported2021.03.29
DraftKings and WWE announce gaming partnership[10]DraftKings与WWE宣布游戏合作comicbook.com
DraftKings and WWE announced a partnership making DraftKings WWE’s Official Gaming Partner, subject to regulatory approval in applicable jurisdictions. The collaboration is set to launch with a free-to-play pool at WrestleMania on April 10 and 11.
2021.03.15
Reported2021.03.15
DISH launches $1 million Bracket Challenge with DraftKings[11]DISH与DraftKings推出100万美元Bracket Challengeprnewswire.com
DISH launched a bracket challenge giving DISH TV customers the chance to win $1 million by creating a perfect NCAA tournament bracket. The challenge was sponsored by DraftKings, and entries were to be accepted through March 19 at 12 p.m. ET.

Sources15 sources

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