DraftKings

Also in July 2015, DraftKings announced a round of funding totaling $300 million, led by Fox Sports, along with the Kraft Group, owners of the New England Patriots, and Boston financial giant Wellington Management. The agreement included a condition stating that DraftKings would spend $250 million on advertising with Fox Sports over the next three years. Due to the acquisition of 21st Century Fox by Disney in March 2019, Fox's stake is now owned by the Walt Disney Company.

In August 2015, DraftKings announced that it had been granted a license by the Gambling Commission in the United Kingdom to operate pool wagering services and that it planned to open an office in London. The company also hired Jeffrey Haas, a veteran of the online poker industry, to serve as Chief International Officer to lead the company's international expansion. DraftKings officially launched in the UK on February 5, 2016, with daily fantasy soccer. As part of the launch, DraftKings enhanced its handling of soccer on the platform to appeal to the local audience. The following year, DraftKings was subsequently awarded a controlled skill games license in Malta, which would allow the service to expand into any European Union (EU) country that allows gambling services to operate under licensing from another EU country, such as Germany.

On October 5, 2015, an article in The New York Times indicated that an employee at DraftKings admitted to inadvertently releasing data before the start of week three's NFL football games. That same employee had won $350,000 on rival fantasy site FanDuel the same week. An internal review concluded the employee obtained the data after lineups were locked and couldn't have used that data for an unfair advantage. Both DraftKings and FanDuel released statements saying that "Nothing is more important... than the integrity of the games we offer to our customers," and they would work with the entire fantasy sports industry "so that fans everywhere can continue to enjoy and trust the games they love." The following day, New York attorney general Eric Schneiderman opened an inquiry into DraftKings and FanDuel, asking each site for a range of internal data and details on how they prevent fraud. ESPN announced on October 6 that they would no longer be running segments sponsored by DraftKings, though paid DraftKings advertisements would continue.

In February 2016, ESPN backed out of its advertising deal with DraftKings due to the legal uncertainties surrounding the service.

On May 2, 2016, Lawrence Wasden, the Idaho attorney general, banned DraftKings and FanDuel from operating in the state, calling them illegal gambling.

On November 18, 2016, DraftKings and FanDuel announced their intent to merge. The combined company would serve over five million users. On June 19, 2017, the Federal Trade Commission (FTC) announced that it would seek a preliminary injunction to block the proposed merger. The FTC felt that the proposed transaction would give the combined company 90% of the U.S. DFS market, which is considered to be a monopoly position. On July 13, 2017, the merger was officially called off due to the threat of litigation from the FTC.

In September 2017, DraftKings and FanDuel each paid $1.3 million to settle with the Massachusetts Attorney General's office over allegations of unfair and deceptive practices by the companies prior to 2016.

2018–present: expansion into sports betting

In May 2018, the Professional and Amateur Sports Protection Act of 1992 was declared unconstitutional by the Supreme Court of the United States, allowing states outside of Nevada to legalize sports betting. In August 2018, DraftKings launched its first legal online sportsbook in New Jersey. Since launching in New Jersey, DraftKings has opened sports betting operations nationwide.

In April 2020, DraftKings completed a reverse merger valued at $3.3 billion that made it a publicly traded company. The merger involved Diamond Eagle Acquisition Corp., a special-purpose acquisition company that went public in May 2019, as well as SBTech Global Ltd., a Europe-based company providing technology solutions for sports betting businesses. The combined company keeps both DraftKings' name and its executive management. On April 24, 2020, the company's shares started trading on the Nasdaq stock exchange under the ticker symbol "DKNG". Hindenburg Research later published a report alleging that SBTech, which accounted for around 25% of DraftKing's revenue at the SPAC consummation, has ties to organized crime in Bulgaria and illegal gambling around the world.

In September 2020, retired NBA player Michael Jordan became an investor and board advisor at DraftKings. In March 2021, DraftKings acquired the Vegas Stats & Information Network (VSiN), a Las Vegas-based radio network and digital media platform oriented towards sports betting news and analysis, from the family of sportscaster Brent Musburger. In December 2021, DraftKings was sued by Colossus Bets for patent infringement. Colossus claimed DraftKings infringed seven patents related to a cash-out feature in their sports betting and gaming products.

On September 11, 2023, DraftKings issued an apology for a controversial promotion that used the 22nd anniversary of the September 11 attacks to encourage betting on games involving New York-based teams. The promotion, which was criticized for exploiting a national tragedy for business, was quickly removed following public backlash.

In 2021, DraftKings agreed to pay at least $50 million over a three-year period to distribute a sports and pop-culture podcast hosted by Dan Le Batard. The agreement marks the first major licensing deal struck by Meadowlark Media, founded by Le Batard. The podcast averages around 10 to 12 million downloads monthly. As of July 2021, DraftKings reached a market capitalization of $20.64 billion.

In May 2022, DraftKings acquired Golden Nugget Online Gaming. In February 2024, the company acquired lottery courier app Jackpocket for $750 million. In July 2024, DraftKings sold VSiN back to the Musburger family.

In September 2024, the company was fined $200,000 by the Securities and Exchange Commission (SEC) for violating Regulation Fair Disclosure when the company's PR team shared material, non-public information about revenue growth on CEO Jason Robins's personal LinkedIn and X (formerly Twitter) accounts before its official earnings release.

In December 2024, US senators Mike Lee and Peter Welch sent a letter to the FTC and US Department of Justice accusing DraftKings and FanDuel of conspiring to "obstruct or impair competition" in violation of federal antitrust law and encouraging an investigation of the companies' actions following their failed merger in 2016.

For Q4 2024, DraftKings reported a $200 million net loss despite a 13% year-over-year revenue increase to $1.39 billion, bringing its full-year losses to $507 million. The company secured a $500 million loan to support expansion, with a focus on iGaming regulatory challenges.

In June 2025, DraftKings filed with the Federal Election Commission to establish a corporate political action committee "to support state and federal candidates and organizations who have shown an interest in issues affecting our business."

In October 2025, DraftKings announced a deal to acquire predictions platform Railbird. The terms of the deal were not disclosed.

In November 2025, ESPN announced an agreement with DraftKings to make it the official sports betting and odds provider for its platforms. The agreement came after ESPN and Penn Entertainment announced that they would unwind their partnership on ESPN Bet.

In December 2025, DraftKings officially launched "DraftKings Predictions", a prediction-markets platform that allows users to bet on and trade contracts tied to the outcomes of sporting events and other real-world occurrences.

A 2026 investigative report by ProPublica found that DraftKings encouraged compulsive gambling. A ProPublica reporter mimicked the behavior of gambling addicts, finding that DraftKings encouraged more problematic gambling from the user rather than reining the user in.