Short Answer

Both the model and the market expect DraftKings average monthly unique payers in fiscal 2026 to be above 3.8 million, with no compelling evidence of mispricing.

1. Market Behavior & Drivers

This market's price action is defined by a rapid, two-day repricing event. The contract traded at a 1.0% probability on July 29, 2026, before spiking 76.0 percentage points to 77.0% on the same day. It saw a further 12.0 percentage point increase to 89.0% on July 30, 2026, where it has since remained. The provided research does not identify a specific news catalyst corresponding to the large price movements on either July 29 or July 30.
Total volume is exceptionally low at just 20 contracts traded, suggesting thin liquidity and low market participation. Such low volume indicates the price may not reflect a broad consensus and could be subject to high volatility from minimal trading activity. The price history is too brief to establish meaningful support or resistance levels beyond the initial floor near 1.0% and the current apparent ceiling at 89.0%.
The current price of 89.0% signals a strong market expectation that DraftKings' average monthly unique payers for fiscal 2026 will exceed the contract's 3.8 million threshold. This sentiment is likely anchored by fundamental data; the company reported 4.2 million MUPs for Q1 2026. While that figure was a 4% year-over-year decrease, it remains comfortably above the level required for this contract to resolve to "YES". The minimal trading volume, however, significantly weakens the conviction of this signal.
  • DraftKings reported Q1 2026 MUPs at 4.2 million; H2 growth is expected.
  • ESPN integration and major sporting events drive anticipated H2 2026 user acquisition.
  • Sustaining averages above 4.4 million may prove challenging after the Q1 consensus miss.

Who Wins and Why

Outcome Market Model Why
Above 4 million 62.0% 69.1% Model higher by 7.1pp
Above 4.8 million 1.0% 3.2% Model higher by 2.2pp
Above 4.2 million 39.0% 37.5% Market higher by 1.5pp
Above 3.8 million 89.0% 87.4% Market higher by 1.6pp
Above 4.4 million 17.0% 14.7% Market higher by 2.3pp

Current Context

DraftKings' Q1 2026 MUPs decreased, impacted by a lottery exit. DraftKings reported 4.2 million Monthly Unique Payers (MUPs) for the first quarter of 2026, which ended March 31, 2026 [1][2][3]. This figure reflected a 4% year-over-year decrease, primarily due to the company's 2025 exit from the Texas lottery business [1][2][3]. Excluding the lottery impact, MUPs increased by 2% year-over-year [1][2][3]. A specific average monthly unique payer figure for the full 2026 fiscal year was not explicitly retrieved [4].
DraftKings maintained financial guidance and expanded market presence for 2026. For fiscal year 2026, DraftKings reaffirmed its guidance for revenue between $6.5 billion and $6.9 billion, and Adjusted EBITDA between $700 million and $900 million [5]. As of June 2026, DraftKings reports having over 10 million customers across 28 U.S. states, Washington, D.C., and Ontario, Canada [4]. The full rollout of an integration between DraftKings and ESPN's ecosystem, including enhanced betting features within the ESPN app, is expected in 2026 [4][6]. In June 2026, DraftKings reported a surge in action on its prediction markets, attributed by company leadership to trading availability in states such as California, Texas, and Florida [7]. DraftKings is scheduled to release its second quarter 2026 financial results on August 6, 2026, with a conference call to follow on August 7, 2026 [8][9].
Sources (9)
  1. 1Documentsec.gov
  2. 2DraftKings Reports First Quarter Revenue of $1,646 Millionbusinesswire.com
  3. 3DraftKings Reports First Quarter Revenue of $1646 Millionir.aboutdraftkings.com
  4. 4ESPN.com - ESPN names DraftKings its official sportsbook, odds providerespn.com
  5. 5DKNG) turns Q1 2026 profit as revenue jumps 17%stocktitan.net
  6. 6What does the DraftKings partnership mean for ESPN? – ESPN Fan Supportsupport.espn.com
  7. 7First week of World Cup betting brings record action at U.S. sportsbooks - ESPNespn.com
  8. 8DraftKings to Release Second Quarter 2026 Results on August 6, 2026 and Host Conference Call on August 7, 2026 | Morningstarmorningstar.com
  9. 9DraftKings to Release Second Quarter 2026 Results on...finance.yahoo.com

2. Price Chart

Historical Price (Probability)

Outcome probability
Date

3. Significant Price Movements

Notable price changes detected in the chart, along with research into what caused each movement.

Outcome: Above 4.2 million

📈 July 30, 2026: 19.0pp spike

Price increased from 20.0% to 39.0%

What happened: Based on the provided research, no evidence was found linking a "19.0 percentage point spike" to a DraftKings fiscal 2026 KPI or a material catalyst for a price movement on July 30, 2026 [1]. While DraftKings reported Q1 2026 Monthly Unique Payers (MUPs) of 4.2 million, this figure was below the FactSet analyst consensus of 4.46 million [2], which would not typically drive a positive market spike for an "Above 4.2 million" outcome. No social media activity, traditional news, or market structure factors supporting the reported movement on the specified date were identified in the sources. Therefore, social media was irrelevant, as no information on specific posts or narratives related to this event was found.

Outcome: Above 4 million

📈 July 29, 2026: 78.0pp spike

Price increased from 1.0% to 79.0%

What happened: The primary driver for the 78.0 percentage point spike in the "DraftKings average monthly unique payers in fiscal 2026" market, for the outcome "Above 4 million," on July 29, 2026, cannot be determined from the provided research. No major company-specific news or catalyst related to Monthly Unique Payers (MUPs) was reported on that specific date [3][4]. Furthermore, the available information does not indicate any social media activity from key figures or viral narratives coinciding with the price movement on July 29, 2026. Therefore, based on the provided data, social media was irrelevant as a primary driver due to a complete lack of evidence.
Sources (4)
  1. 1Imagine the girth 😍 - He is now listed at 6'7 on NBA....instagram.com
  2. 2DraftKings Q1 Monthly Unique Payers at 4.2 Million vs FactSet Analyst Consensus of 4.46 Million; Avg Revenue Per Unique Payer at $131 vs Consensus of $122.63 | MarketScreener Australiaau.marketscreener.com
  3. 3DKNG Stock Impact Report for 07/29/2026 | News Quantifiednewsquantified.com
  4. 4News Detailwebull.com.au

4. Market Data

Contract Snapshot

For each specific contract, a "YES" resolution occurs if DraftKings' average monthly unique payers in fiscal 2026 is above the stated threshold (e.g., 4 million), otherwise it resolves "NO" if it is at or below that threshold. Trading for this market begins on February 13, 4:00 PM EST. The maximum payout date for the market is May 14, 2027, with no other special settlement conditions explicitly mentioned.

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Last trade probability
Above 3.8 million $0.93 $0.11 89%
Above 4 million $0.71 $0.37 62%
Above 4.2 million $0.47 $0.61 39%
Above 4.4 million $0.25 $0.83 17%
Above 4.6 million $0.12 $0.96 4%
Above 4.8 million $0.06 $1.00 1%

Market Discussion

DraftKings reported 4.2 million Monthly Unique Payers (MUPs) in Q1 2026, a 4% year-over-year decrease attributed primarily to exiting the Texas lottery business [1][2][3]. Management anticipates its 'DraftKings Predictions' platform, launched in December 2025 and reporting increased activity as of June 2026, alongside a strategic partnership with ESPN expected to fully roll out throughout 2026, will drive significant MUP growth in the second half of the year [4][5][6][7][8][9]. However, market sentiment is divided, with bears viewing external prediction markets as disruptive substitutes, while bulls see DraftKings' internal prediction initiatives as a major long-term growth lever [10][6][11].

Sources (11)
  1. 1Draftkings Inc. (DKNG) 10-Q Quarterly Report May 2026last10k.com
  2. 2Draftkings Inc. (DKNG) 8-K Earnings Release - May 2026last10k.com
  3. 3DraftKings posts Q1 2026 profit on 17% revenue rise | DKNG 8-K Filingstocktitan.net
  4. 4DraftKings (DKNG) Q1 2026 Earnings Transcript | The Motley Foolfool.com
  5. 5Macquarie: DraftKings One of the Most Compelling Growth Stories in Gaming - GambleRssgamblerss.com
  6. 6DraftKings Price Target, Q2 Estimates Pared by Morgan Stanley on Prediction Market Spendingcasino.org
  7. 7First week of World Cup betting brings record action at U.S. sportsbooks - ESPNespn.com
  8. 8ESPN names DraftKings its official sportsbook, odds provider - ESPNespn.com
  9. 9What does the DraftKings partnership mean for ESPN? – ESPN Fan Supportsupport.espn.com
  10. 10Bear Cave Renews DraftKings Bear Case on Prediction Market Momentum - DraftKings (NASDAQ:DKNG) - Benzingabenzinga.com
  11. 11DraftKings Stock Price Forecast — DKNG ($24) Falls as Kalshi Overlap Jumps From 12% to 17% — $23 Floor, $35 Consensustradingnews.com

5. Trust Index

Octagon Trust Index Kalshi 64 Caution

Order book is critically thin.

Primary risk· Trade quality

How it adds up
Integrity80% of score73Good

Info fairness is low (40), but Integrity averages all three scores, so the other two pull it up. Only a critically low score would cap the total.

Trade quality20% of score29Avoid

Includes the cost to trade: a $1,000 order can't be filled here because the order book is too thin.

Trust score64Caution

Weighted blend with hard caps — a critically weak safety pillar, or a severe trading anomaly, caps the total regardless of the rest. Full methodology · About the Trust Index

Trust profile
Integrity4 screens run · 3 don't apply · 3 awaiting data
Market integrity
94Strong

Outcome is hard to influence

No suspicious activity on any screen

Screened clean
Large tradesNo single trade dominates the tape. Clear
Thin-volume movesNo significant move Clear
Size patternsNo distribution read Clear
2 screens not run
Outcome control · doesn't apply to this market type
Thin-leg conviction · doesn't apply to this market type
Info fairness
40High Risk
Information exposureStructural risk · medium confidence

Company-reported metric: finance and investor relations know the number before the earnings release

4 screens not run
Move vs. catalyst · data source not connected
Longshot repricing · data source not connected
Pre-broadcast certainty · doesn't apply to this market type
Cross-venue timing · data source not connected
Resolution quality
92Strong

Resolution mechanism is dependable

No suspicious activity on any screen

Resolution rules read: Clear

Liquidity
36Very thin

Hard to fill near the screen price

3 contracts · worst first · 3 below the volume floor — not scored

Above 4 million36
Very thin · low confidence

Light recent trading — size may not fill near the screen price.

Above 4.2 million—
No recent trading to measure

No recent trading to measure

Above 4.8 million—
No recent trading to measure

No recent trading to measure

Move quality
70Stable

No significant moves

3 contracts · worst first · 3 below the volume floor — not scored

Above 4 million—
No trading in 4d

No trades in the last 4d — nothing to confirm

Above 4.2 million—
No trading in 3d

No trades in the last 3d — nothing to confirm

Above 4.8 million—
Only 0 candle closes

Only 0 candle closes

Rule clarity
100Clear

Counts toward Resolution quality, not here

3 contracts · worst first · 3 below the volume floor — not scored

Above 4 million100
Clear · high confidence

All checks pass

objective outcome · Clearofficial source · Cleartime boundary · Clear
Above 4.2 million100
Clear · high confidence

All checks pass

objective outcome · Clearofficial source · Cleartime boundary · Clear
Above 4.8 million100
Clear · high confidence

All checks pass

objective outcome · Clearofficial source · Cleartime boundary · Clear
Trade quality
29Avoid

Order book is critically thin

Thin market — entering or exiting at fair value will be difficult.

Outcome quality 36 (notional-weighted)

$100 order: 5.0c slippage (~7% of a 67c contract)

$1,000 order: book too thin to fill

$10,000 order: book too thin to fill

3 below the volume floor — not scored

Above 4 million36Market scoreLiquidity36Move quality–Rule clarity100
Why 36
Liquidity
36 · Very thin · low confidence

Light recent trading — size may not fill near the screen price.

Move quality
No trading in 4d

No trades in the last 4d — nothing to confirm

Rule clarity
100 · Clear · high confidence

All checks pass

objective outcome · Clearofficial source · Cleartime boundary · Clear
Above 4.2 million–Market scoreLiquidity–Move quality–Rule clarity100
Why this score
Liquidity
No recent trading to measure

No recent trading to measure

Move quality
No trading in 3d

No trades in the last 3d — nothing to confirm

Rule clarity
100 · Clear · high confidence

All checks pass

objective outcome · Clearofficial source · Cleartime boundary · Clear
Above 4.8 million–Market scoreLiquidity–Move quality–Rule clarity100
Why this score
Liquidity
No recent trading to measure

No recent trading to measure

Move quality
Only 0 candle closes

Only 0 candle closes

Rule clarity
100 · Clear · high confidence

All checks pass

objective outcome · Clearofficial source · Cleartime boundary · Clear

underwriting_v1.4 · computed Sep 18, 2026

6. What is the consensus among financial analysts for DraftKings' average Monthly Unique Payers (MUPs) in fiscal year 2026?

FY2026 Average MUPs ConsensusNot explicitly stated [1][2]
Q1 2026 MUP Consensus4.46 million [3][4][5][6][1][2]
Q1 2026 Reported MUPs4.2 million [3][4][5][6][1][2]
An explicit consensus for DraftKings' 2026 MUPs is not currently available. A directly published analyst consensus figure for DraftKings' average Monthly Unique Payers (MUPs) in fiscal year 2026 is not explicitly provided in the retrieved sources, and DraftKings itself does not offer specific FY2026 MUPs guidance [1][2][7][8][9][10]. However, DraftKings management anticipates a "tremendous increase in MUPs" in the latter half of FY2026, driven by customer acquisition efforts and market expansion [1][2].
Recent quarterly data indicates DraftKings' MUPs fell below consensus. The most recent public consensus data points are quarterly, with a Q1 2026 MUP consensus of 4.46 million [3][4][5][6][1][2]. DraftKings reported MUPs of 4.2 million for Q1 2026, which fell below the FactSet analyst consensus for that quarter [3][4][5][6][1][2]. For Q4 2025, the reported MUP consensus was 5.26 million, with actual reported MUPs at 4.8 million [1][2].
Q1 2026 MUPs saw a decrease due to a business exit. Year-over-year MUPs experienced a 4% decrease in Q1 2026. This decline was primarily due to the company's exit from the Texas lottery business [6][8][11]. When excluding the impact of the Texas lottery exit, MUPs actually increased by 2% year-over-year in Q1 2026 [6][8][11].
Sources (11)
  1. 1DKNG_Q12026, Page: 3Octagon Agentoctagonai.co
  2. 2DKNG_Q12026, Page: 4Octagon Agentoctagonai.co
  3. 3DraftKings Q1 Monthly Unique Payers at 4.2 Million vs FactSet Analyst Consensus of 4.46 Million; Avg Revenue Per Unique Payer at $131 vs Consensus of $122.63 | MarketScreener Australiaau.marketscreener.com
  4. 4DraftKings (DKNG) Reports Q1 Earnings: What Key Metrics...finance.yahoo.com
  5. 5DraftKings (DKNG) Reports Q1 Earnings: What Key Metrics Have to Saysharewise.com
  6. 6DraftKings Reports First Quarter Revenue of $1646 Millionir.aboutdraftkings.com
  7. 7DraftKings average monthly unique payers in fiscal 2026kalshi.com
  8. 8Documentsec.gov
  9. 9DraftKings posts revenue of US$1.64 billion in first quarter, up 17% – COMPLETE iGAMINGcompleteigaming.com
  10. 10DraftKings (DKNG) Q1 2026 Earnings Transcript | The Motley Foolfool.com
  11. 11DKNG) turns Q1 2026 profit as revenue jumps 17%stocktitan.net

7. Which potential new state market legalizations in H2 2026 could most significantly boost DraftKings' MUP count?

Expected H2 2026 MUP boost from new legalizationsNo significant boost expected (as of July 30, 2026) [1][2][3]
DraftKings' primary MUP growth driver for H2 2026Rollout of proprietary prediction market exchange and customer acquisitions [4]
States with projected 2026 launchesMissouri (Q3 2026), Mississippi (2026) [1][2][3]
DraftKings does not expect significant MUP growth from new state legalizations. As of July 30, 2026, DraftKings is not anticipating any new state market legalizations for sports betting in the second half of 2026 that would meaningfully increase its Monthly Unique Players (MUP) count [1][2][3]. Company management has explicitly stated that new state-by-state sports betting legalizations are not considered the primary factor for MUP growth during this period [4].
Expected new state launches will not significantly boost MUP. While Missouri is projected to launch in Q3 2026 and Mississippi is also expected to launch within 2026, these new market entries are not foreseen to provide a significant boost to DraftKings' MUP count in H2 2026 [1][2][3].
DraftKings focuses on proprietary tools for MUP growth. Instead of relying on new state legalizations, DraftKings is concentrating its efforts on driving MUP growth through the deployment of its proprietary prediction market exchange and associated customer acquisition strategies [4].
Sources (4)
  1. 1US Sports Betting 2026: 39 States Legal, What Comes Next | DCdeucescracked.com
  2. 22026 US Sports Betting: State of the Industry | BettingOnline.orgbettingonline.org
  3. 3What Could Change In 2026 For The Legal Sports Betting Market In The US - Sportsbook Advisorsportsbookadvisor.com
  4. 4DraftKings (DKNG) Q1 2026 Earnings Transcriptfool.com

8. How does DraftKings' MUP growth rate and customer acquisition cost (CAC) compare to its main competitor, FanDuel, in H1 2026?

DraftKings Q1 2026 MUPs4.2 million [1][2][3][4]
DraftKings Q1 2026 MUPs YoY Growth (excl. lottery)2% [1][2][3][4]
FanDuel H1 2026 Estimated CAC$340 [5][6]
DraftKings' MUPs declined slightly, but showed underlying growth and strong financial outlook. In Q1 2026, DraftKings reported 4.2 million Monthly Unique Payers (MUPs), marking a 4% year-over-year decrease. This decline was primarily attributed to the company's exit from the Texas lottery business. However, when excluding the impacts of the lottery business, DraftKings' MUPs actually increased by 2% year-over-year [1][2][3][4]. The company has also reaffirmed its fiscal year 2026 guidance, expecting revenue between $6.5 billion and $6.9 billion, and Adjusted EBITDA between $700 million and $900 million [3][7][4].
FanDuel exhibits a lower Customer Acquisition Cost than DraftKings for H1 2026. For H1 2026, industry analyses estimate FanDuel's Customer Acquisition Cost (CAC) to be approximately $340, while DraftKings' is estimated at around $390 per new depositing customer [5][6]. This suggests that FanDuel maintains a more efficient CAC, possibly due to its strategy of 'earned attention' in contrast to DraftKings' greater expenditure on affiliate marketing and launches in new states [5][6]. The provided research does not include FanDuel's MUP growth rate for H1 2026, making a direct comparison of MUP growth between the two companies impossible from this data.
Sources (7)
  1. 1DraftKings Reports First Quarter Revenue of $1,646 Million | Thenatlawreview.com
  2. 2DraftKings tops Q1 estimates as Robins touts predictions growthigamingbusiness.com
  3. 3Draftkings Inc. (DKNG) 10-Q Quarterly Report May 2026last10k.com
  4. 4DraftKings posts revenue of US$1.64 billion in first quarter, up 17% – COMPLETE iGAMINGcompleteigaming.com
  5. 5DraftKings vs. FanDuel: Who Wins Sports Betting in 2026? – USA Business Timesusabusinesstimes.com
  6. 6FanDuel vs. DraftKings: Who Wins Sports Betting in 2026? – USA Business Timesusabusinesstimes.com
  7. 7DraftKings posts Q1 2026 profit on 17% revenue rise | DKNG 8-K Filingstocktitan.net

9. Where are DraftKings' official Monthly Unique Payer figures published, and what is the reporting schedule for the remainder of fiscal 2026?

Q1 2026 Monthly Unique Payers4.2 million [1][2]
Q2 2026 Earnings Release DateAugust 6, 2026 [3][4][5]
Q3 and Q4 2026 Reporting ScheduleNot specified in available research [6]
DraftKings regularly publishes Monthly Unique Payer figures quarterly in investor materials. The company's Monthly Unique Payer (MUP) figures are typically found within its investor relations materials, including earnings press releases and official SEC filings like Forms 10-Q and 8-K [6][7][1]. For the first quarter of fiscal year 2026, DraftKings reported a total of 4.2 million Monthly Unique Payers [1][2].
DraftKings has announced its second quarter 2026 earnings release schedule. Second quarter earnings for fiscal year 2026 are scheduled for release on August 6, 2026, followed by a conference call on August 7, 2026 [3][4][5]. However, current research does not provide specific details on the reporting schedule for DraftKings' third and fourth quarters of fiscal 2026.
Sources (7)
  1. 1DraftKings Reports First Quarter Revenue of $1646 Millionir.aboutdraftkings.com
  2. 2DraftKings posts Q1 2026 profit on 17% revenue rise | DKNG 8-K Filingstocktitan.net
  3. 3DraftKings to Release Second Quarter 2026 Results on August 6, 2026 and Host Conference Call on August 7, 2026 | Morningstarmorningstar.com
  4. 4DraftKings to Release Second Quarter 2026 Results on August 6, 2026 and Host Conference Call on August 7, 2026 | MarketScreenermarketscreener.com
  5. 5DraftKings to Release Second Quarter 2026 Results on August 6, 2026 and Host Conference Call on August 7, 2026 – Company Announcement - FT.commarkets.ft.markitdigital.com
  6. 6Financials - Quarterly Results - DraftKings - Investor Relationsir.aboutdraftkings.com
  7. 7DraftKings - Investor Relationsir.aboutdraftkings.com

10. How will the full integration with ESPN's ecosystem, expected in 2026, impact DraftKings' user acquisition and engagement?

Partnership Integration StartDecember 1, 2025 [1][2]
March Madness Integration LaunchMarch Madness 2026 [1][3]
Q1 2026 Monthly Unique Payers4.2 million [4][5]
DraftKings' ESPN integration targets enhanced user acquisition and reduced costs. The complete integration of DraftKings with ESPN's platform, effective December 1, 2025, is strategically designed to enhance user acquisition and engagement for DraftKings [1][2]. This partnership leverages ESPN's extensive viewership to directly drive new users and is projected to lower customer acquisition costs [2][6]. Key features of this integration include account linking, personalized betting tools, and specialized offerings such as "Bet Your Bracket," which debuted for March Madness 2026 [1][3].
Integration aims for engagement growth, despite recent MUP fluctuations. These integrated components are expected to improve user retention, increase overall engagement, and facilitate cross-selling of various products like fantasy sports and betting [2][6][7]. For the first quarter ending March 31, 2026, DraftKings reported 4.2 million Monthly Unique Payers (MUPs) [4][5]. This figure represents a 4% decline year-over-year, primarily attributed to the company's exit from the Texas lottery business; however, MUPs increased by 2% when this specific impact is excluded [4][5]. The company has also reiterated its financial guidance for the full year 2026 [4].
Sources (7)
  1. 1DraftKings and ESPN detail plans to provide account linking for customers - ESPN Press Room U.S.espnpressroom.com
  2. 2DraftKings Leaks March Madness Alpha via ESPN Account Linking, Testing Super App Playbook with Zero-Cost User Acquisitionainvest.com
  3. 3DraftKings And ESPN Introduce Account Linking Feature Ahead Of March Madness 2026 - SCCG Managementsccgmanagement.com
  4. 4Draftkings Inc. (DKNG) 10-Q Quarterly Report May 2026last10k.com
  5. 5DraftKings posts Q1 2026 profit on 17% revenue rise | DKNG 8-K Filingstocktitan.net
  6. 6DraftKings: The Prediction Market Threat Looks Overstatedseekingalpha.com
  7. 7ESPN Optimistic on New Partnership with DraftKingsdeadspin.com

11. What Could Change the Odds

Key Catalysts

DraftKings maintains its full-year 2026 revenue guidance of $6.5 billion to $6.9 billion and Adjusted EBITDA guidance of $700 million to $900 million [1][2]. Bullish catalysts for 2026 include engagement from the FIFA World Cup and the NFL season, along with midterm election-related activity [3]. Further upside may come from the expansion of DraftKings' 'Predictions' platform and a new super app launch [3]. A full integration of DraftKings products, including sportsbook, daily fantasy, and Pick6, into the ESPN platform is expected to complete its rollout in 2026 [4][5].
Potential headwinds for DraftKings include increased competition in prediction markets, possible regulatory and state tax pressures, and volatility stemming from sports outcomes [6]. High short interest also remains a factor [6]. Analysts monitor key performance metrics such as Monthly Unique Payers (MUPs), Average Revenue per MUP (ARPMUP), Sportsbook hold rates, and Adjusted EBITDA margins, noting a MUP figure below 4.5 million as an alert [7][6]. For the first quarter of 2026, DraftKings reported 4.2 million MUPs, a 4% year-over-year decrease attributed primarily to the 2025 exit from the Texas lottery business; excluding this impact, MUPs increased 2% [8][9][1]. Since January 1, 2025, DraftKings implemented a surcharge on winning bets in states with high sports betting tax rates (greater than 20%) and multiple operators to maintain profitability [10].

Key Dates & Catalysts

  • Expiration: May 14, 2027
  • Closes: May 14, 2027
Sources (10)
  1. 1DraftKings - DraftKings Reports First Quarter Revenue of $1,646 Millionir.aboutdraftkings.com
  2. 2DraftKings (DKNG) Q1 2026 Earnings Transcript | The Motley Foolfool.com
  3. 3DraftKings Stock's Bottom Is Here - FIFA/NFL/Midterm Tailwinds Ahead (NASDAQ:DKNG) | Seeking Alphaseekingalpha.com
  4. 4ESPN.com - ESPN names DraftKings its official sportsbook, odds providerespn.com
  5. 5What does the DraftKings partnership mean for ESPN? – ESPN Fan Supportsupport.espn.com
  6. 6DraftKings Inc. – Equity Research – Jun 2026 – Wagering America – A Kelly Criterion Capital Companywageringamerica.com
  7. 7DraftKings Stock Analysis: 76% Upside Case for 2026moschovakiscapital.com
  8. 8DraftKings Reports First Quarter Revenue of $1,646 Millionbusinesswire.com
  9. 9DraftKings posts Q1 2026 profit on 17% revenue rise | DKNG 8-K Filingstocktitan.net
  10. 10ESPN.com - What's the impact of DraftKings' betting surcharge?espn.com