# DraftKings Stock Plunges on Prediction Market Spending

> DraftKings shares drop 21% after revealing $700m spending on prediction markets.
- Title: DraftKings Stock Plunges on Prediction Market Spending
- Summary: DraftKings shares drop 21% after revealing $700m spending on prediction markets.
- Keywords: draftkings, prediction markets, sports betting, fan duel, kalshi, polymarket, supreme court, stock price, sports books, massachusetts, The Boston Globe
- Source: The Boston Globe — https://bostonglobe.com/2026/11/06/business/draftkings-prediction-markets-stock-expenses
- Read time: 1 min
- Topics: draftkings, prediction markets, sports betting, fan duel, kalshi, polymarket, supreme court, stock price, sports books, massachusetts, news, local
## DraftKings stock drops
Shares plunged 21 percent to $18.51 after disclosing $700 million in prediction market spending.
## Prediction market spending revealed
DraftKings disclosed up to $700 million on prediction markets this year, more than double previous spending.
## Investor skepticism
Investors question why DraftKings is expanding so fast given Supreme Court legal uncertainty.
## CEO response
CEO says DraftKings will recover investments even if Supreme Court bans prediction markets.
## Market expansion strategy
DraftKings aims to match Kalshi and Polymarket's marketing spending despite being a late entrant.
## Key takeaway

DraftKings stock fell 21% to $18.51 as investors questioned its $700m prediction market expansion amid Supreme Court legal uncertainty.