Sports Betting Stocks Surge Nearly 3 Trillion Won in One Day Following $1.3 Billion Prediction Market Deal

DraftKings Inc. (NASDAQ: DKNG) closed at $27.88 on the Nasdaq on the 9th, marking a 12.52% one-day gain. Trading volume reached approximately 13.97 million shares, and the company’s market capitalization climbed by roughly $2 billion to about $13.8 billion (around KRW 19 trillion).

The rally was driven by DraftKings’ Form 8-K disclosure that its prediction-market service, DraftKings Predict, achieved an annualized consumer betting handle of $1.3 billion in May—up 24% month-over-month—and total wagering volume of $3.1 billion, a 34% increase. Brokerage firms including TD Cowen reaffirmed their buy ratings and roughly $30 price targets, citing the company’s prediction-market growth and “super-app” strategy and suggesting that DraftKings’ growth story is being re-priced by the market.

Headquartered in Boston, DraftKings is an online sports-betting and iGaming operator founded in 2012 and listed on the Nasdaq via a SPAC merger in 2020. The company has sustained roughly 40% quarterly revenue growth, recorded its first full-year net profit in 2025, and for 2026 has guided revenue of $6.5 billion to $6.9 billion, outlining plans to improve profitability while simultaneously expanding its prediction-market business.