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Narrator/Announcer
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Interviewer/Host
Bloomberg Audio Studios Podcasts Radio News Jason Robbins is CEO of DraftKings and he joins us now. Jason, always a pleasure to speak with you and there's a lot to it comes to prediction markets. We'll dig into that shortly because I'm sure it's taking up a lot of your and your company's mind space right now. What part of your business is not affected by prediction markets and how's that going?
Jason Robbins
Well, the bulk of our business is in prediction markets still. That's still a very new business for us. Our core business is Sportsbook and iGaming and both of those are doing very well. We had 17% revenue growth. Really great quarter from a profitability perspective and April has been a great month. Q2 is off to a great start. We mentioned on our call April revenue was up 22%, so really strong growth and I think the most exciting piece that is in the future prediction markets. That's not even in the numbers yet, so hopefully that'll provide even more upside.
Interviewer/Host
Absolutely. What have you observed about how your customers use and interact with these sports events contracts?
Jason Robbins
Well, it's very early, but it's very similar to what we're seeing on our Sportsbook product. Very similar type of customers, similar engagement in terms of the sports that they like a little bit more on March Madness, relatively speaking than we saw in some of the other sports, which is interesting. But overall looks very much like the same type of customer that we got in Sportsbook.
Interviewer/Host
When do you think this app will be ready and will it be positioned to challenge rivals like Kalshi?
Jason Robbins
And it's ready already. We've been in market since December, but it's really improved a ton. And we just launched the super app version, which is the combination of it into the main app a few like about a month or so ago and already we're seeing customer acquisition costs plummet. We had about a 90% decline in customer acquisition costs over the last month
Interviewer/Host
or two and you said it's still not a big part of your business, but how big of a game changer could this be down the line?
Jason Robbins
Well, what this does is it allows us to offer a product to customers in nearly half of the country that we don't have online sports betting that includes the three largest states, California, Texas and Florida by population that is now an addressable audience for us. So it will take time for them to ramp. But I think it's going to happen pretty quickly, starting this NFL season and beyond. And we're planning on investing as long as the numbers are good. But so far, we really like what we're seeing and we're excited about the potential for this to be a huge growth lever for us for several years to come.
Interviewer/Host
The fact that you're offering a prediction market product and that you are getting ready for this super app, this unified app, would suggest that you and the rest of management expects the legal status of those markets to be ultimately affirmed by the Supreme Court. Is that a fair statement?
Jason Robbins
Well, I don't want to predict what the Supreme Court's going to do. It's always tricky on something like that. We just need to make sure we're prepared regardless of the outcome. And I do think that we'll be in a great position no matter what that ruling is. If it ends up that, you know, the Supreme Court strikes this all down, then, you know, we go back to having less competitors like the couches of the world out there. But if they end up affirming this, then it represents a huge new market opportunity that we're just beginning to tackle. So we're pretty happy either way and we'll see what happens.
Interviewer/Host
I mean, your business is sports, whether it's through the traditional sports books or through these sports events contracts. Do you plan to offer events contracts on non sports events like politics, for instance, economic data, cultural events?
Jason Robbins
We do offer those. We have a number of those. I think particularly the politics ones, get decent amounts of decent amounts of volume. Obviously, the bulk of the industry, no matter which prediction platform you look at, is sports. It's true, you know, almost 90%. It'll be north of 90% once the NFL season hits. But those are, even though they don't get as much volume, are very important from a customer engagement standpoint. I think a lot of people just like looking at them and it's almost like a substitute for looking at polls to see how people are doing in elections and things like that. And I think it's almost a novelty, just, you know, an eyeball kind of catching things. So even though not a lot of volume goes there, we view them as a very important part of customer engagement.
Interviewer/Host
And you've now posted two straight quarters of positive net income and brought back stock. Does that signal a new phase for capital allocation at your company?
Jason Robbins
Well, we started generating meaningful cash flow last year. It's ramping into this year, and we've always said that, you know, we're going to use at least some of that capital to buy back stock. I think depending on how things go, we may buy back more or less in any given period of time. But our overall commitment is that we are aiming to try to offset any dilution so that our share count stays neutral and maybe even declines a little bit over time.
Narrator/Announcer
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Date: May 8, 2026
Host: Bloomberg
Guest: Jason Robins, CEO of DraftKings
This episode features a timely interview with Jason Robins, CEO of DraftKings, focusing on the company's expansion into prediction markets, how these markets are transforming DraftKings’ business, and what it means for the broader landscape of legal wagering and customer engagement. Robins addresses the current status and future growth prospects of the prediction market segment, discusses regulatory uncertainties, explains DraftKings’ approach to non-sports prediction contracts, and touches on financial strategy and shareholder returns.
“We just need to make sure we're prepared regardless of the outcome... If [the Supreme Court] ends up affirming this, then it represents a huge new market opportunity... we're pretty happy either way and we'll see what happens.” (Jason Robins, 03:05)
On Market Opportunity:
On Legal Strategy and Supreme Court:
On Customer Engagement Beyond Sports: