DraftKings Shares Jump 2.91% on Missouri License as $430M in Trading Volume Ranks 236th Entering 29th U.S. State for Sports Betting

On August 15, 2025, DraftKings (DKNG) surged 2.91% with a trading volume of $430 million, ranking 236th in market activity. The stock’s performance coincided with the announcement of a direct mobile sports betting license in Missouri, granting the company independent operational rights across the state. This license eliminates the need for partnerships with land-based casinos or sports teams, marking a strategic expansion into the 29th U.S. state for regulated sports betting. The service is slated to launch on December 1, 2025, pending final approvals.

The Missouri license underscores DraftKings’ growing footprint in North America, now spanning 28 U.S. states, Washington D.C., and Ontario, Canada. The company emphasized its commitment to responsible gaming, highlighting tools like My Stat Sheet and My Budget Builder to help users manage activity and set limits. Additionally, DraftKings’ S.E.R.V.E.S. program reflects its community-focused initiatives, including recent support for tornado recovery efforts in St. Louis. These measures align with its broader mission to balance growth with ethical operations in regulated markets.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to now delivered moderate returns. The 1-day return was 0.98%, with a total return of 31.52% over 365 days. This indicates the strategy captured some short-term momentum but also reflected market volatility and potential timing risks.