DraftKings Inc. shares climbed 7.5% to $26.04 in afternoon trading Friday, outperforming broader equities as a federal court ruling and renewed National Football League partnerships reinforced the company’s market position.
The advance followed a Ninth Circuit Court decision determining that sports betting does not constitute swaps under U.S. federal law, a ruling that curtails a regulatory threat to licensed operators. The decision diminishes competitive pressure from prediction market platforms such as Kalshi, which had sought to expand under a different legal framework.
Separately, the NFL announced the renewal of its official sports betting partnerships ahead of the 2026 season, with DraftKings retaining its status as an official sports betting partner and daily fantasy provider. The company has held the NFL roles since 2019. Fanatics was added as a third partner, replacing Caesars, while Flutter Entertainment’s FanDuel remains a partner.
The gains in DraftKings and Flutter Entertainment shares reflect a broader positive sentiment across the online sports betting sector, even as major U.S. equity indexes declined. The S&P 500 fell 0.3%, the Dow Jones slipped 0.1%, and the Nasdaq dropped 0.5% during the same session.
DraftKings’ stock remains well below its 52-week high of $48.78, but Friday’s move underscores investor confidence tied to regulatory clarity and sustained league-level partnerships as the NFL season approaches on September 9.
