DraftKings Slumps to 307th in U.S. Trading Activity Amid Regulatory Scrutiny and Revenue Woes

, marking its second consecutive day of negative momentum. , , . equities. The underperformance came amid mixed market conditions for speculative growth stocks.

Recent developments suggest regulatory scrutiny remains a key headwind for the iGaming platform. A U.S. Senate committee has initiated a probe into online sports betting licensing practices, with particular focus on DraftKings' expansion strategy. While no direct penalties have been announced, the investigation has intensified investor caution around the sector. Additionally, a new state-level tax proposal in Massachusetts targeting online gambling operators could impact long-term profitability if passed into law.

Analysts note that DraftKings' recent partnership with a major sports league has yet to translate into concrete revenue growth. The company's Q2 earnings report, released earlier this month, . Market participants remain divided on the sustainability of its customer retention rates amid intensifying competition from traditional sportsbook operators entering the digital space.

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