DraftKings Guides 2026 Revenue to $6.5–6.9B with Tens-Million Predictions Costs
DraftKings forecasts 2026 revenues of $6.5–6.9 billion and adjusted EBITDA of $700–900 million, absorbing tens of millions in upfront and marketing costs for its Predictions vertical with no revenue assumed. Shares have slid 31.5% over three months and trade at 1.68x price-to-sales, below the 2.06 industry average.
1. Predictions Vertical Investment
DraftKings has launched its new Predictions product but assumes no revenue from it in its 2026 outlook, citing the early stage of the platform. Management plans tens of millions of dollars in upfront development and additional marketing spend to drive user adoption before monetization begins.
2. 2026 Financial Outlook
The company projects 2026 revenues between $6.5 billion and $6.9 billion, with adjusted EBITDA of $700 million to $900 million. Guidance incorporates investments in Predictions, planned jurisdiction expansions and a cautious, achievable forecast to maintain credibility under evolving market conditions.
3. Share Performance and Valuation
DraftKings’ shares have fallen 31.5% over the past three months compared with a 16.8% industry decline as investors digest near-term costs. The stock trades at a 1.68x forward price-to-sales multiple, below the 2.06 peer average, while consensus 2026 earnings forecasts have been trimmed.