DraftKings Predictions Hit by Proposed Senate Bill, Penn Entertainment Remains Unfazed

DraftKings (DKNG) stock fell 6% due to a proposed Senate bill targeting prediction market platforms, which directly threatens its DraftKings Predictions product. Penn Entertainment (PENN) stock remained flat with minimal exposure to prediction markets and solid online sportsbook momentum. The bipartisan Senate bill poses regulatory risk to DraftKings' Predictions product, while competitors with traditional sportsbook models like Penn Entertainment face less legislative exposure.