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7investing Quick Take: DraftKings (DKNG)
The 10 Second Takeaway: DraftKings and other online sports betting platforms are losing market share to predictive markets.
DraftKings (Nasdaq: DKNG) and FanDuel (owned by Flutter Entertainment (NYSE: FLUT)) have enjoyed more than 80% share for years in America's online sports betting market duopoly.
But now they're adjusting to a new player who's recently joined their table.
Privately-held Kalshi has a reserved seat to allow gamblers to bet on sporting events. Yet this isn't the same as its larger peers, and its new approach is taking the industry by storm.
Kalshi isn't just another online…
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