DraftKings has lowered its full-year 2026 adjusted EBITDA forecast by as much as $625 million as investment in its prediction markets business weighs on profitability, despite a 16% increase in third-quarter revenue.
The company now expects adjusted EBITDA of $175 million to $275 million, compared with its previous forecast of $700 million to $900 million. Revenue guidance was also reduced to $6.35…
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