Kalshi's $5 Billion Valuation Threatens DraftKings, ETF Traders Hedge Their Bets

Benzinga_recent_news10-11

Sports betting ETFs are experiencing a buildup in activity as DraftKings Inc (NASDAQ:DKNG) shares plummet, highlighting the way growing competition from prediction platforms is spilling over into ETF ...

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  • Cedric77
    10-14
    Cedric77
    Yes — there is a recent confirmed purchase by Cathie Wood's ARK Invest of DraftKings (DKNG). Here are the details: They acquired 511,049 shares of DraftKings. Retail Investors Might Be Missing Cathie Wood's moves often look contrarian in the short term but are tied to macro innovation themes that she believes will converge later. DraftKings (DKNG) isnt  just a betting platform — she sees it as part of a “prediction market” revolution. Here's what may not be obvious to retail investors: AI-Driven Prediction Models: DraftKings is increasingly using AI and machine learning for odds-making, fraud detection, and personalized betting — which aligns with ARK’s “AI in consumer platforms” theme. Data Asset Play: DraftKings holds massive user behavior data (sports, spending, timing, sentiment)
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