DraftKings shares fall 5.18% after hours amid weak New York online sports betting market performance.

DraftKings Inc. fell 5.18% in after-hours trading following an insider sale by Chief Legal Officer R. Stanton Dodge, who sold 52,777 shares for $1.69 million, signaling potential lack of confidence in the stock. Despite a "Buy" rating reaffirmed by Benchmark and Texas Capital Securities, concerns over New York’s weak online sports betting market—where handle and revenue declined 2.0% and 39.9% YoY, respectively—highlighted ongoing operational challenges. The insider sale, coupled with broader uncertainties around gaming tax hikes and volatile investor sentiment, likely exacerbated the sell-off. While promotional efforts in Missouri and analyst optimism suggest long-term potential, immediate bearish pressures dominated the after-hours session.