EP. 53: Why is DKNG not Benefiting from the Prediction Markets Surge? Is it the VC Sydney Sweeney  Effect on Customer Acquisition Cost (CAC)?

Podcast: Pitch The PM · PitchThePM

Opublikowano: 2026-10-01

Prediction markets are surging, but DraftKings is moving in the opposite direction. Is the issue market share? Rising customer acquisition costs? Or simply a reset from last year’s growth expectations? In this episode, Bernie McTernan, CFA, Managing Director and Senior Analyst at Needham & Company, breaks down the rapidly changing prediction-market landscape. We discuss Kalshi’s first-mover advantage, DraftKings’ strategy to replicate its regulated sportsbook playbook in currently unregulated states, Novig’s aggressive customer-acquisition push, and whether prediction markets meaningfully expand the long-term TAM for companies like DKNG. With negative estimate revisions weighing on the stock, e...