Global marketsUpdated November 6

DraftKings CEO says most Predictions investment went to acquiring customers

CEO Jason Robins is defending the spending behind the cut. DraftKings’ fiscal 2026 plan includes $650 million–$700 million in adjusted EBITDA investment in its Predictions business. Robins told Bloomberg that most of that amount went to acquiring new customers, and said the investment would pay off. The company said increased Predictions investment primarily drove its lower 2026 adjusted EBITDA outlook. So the explanation and the defense point to the same outlay: it weighs on the near-term forecast, while Robins argues it will pay off.

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Coverage started November 6