DraftKings Trading Volume Surges to $428 Million, Ranks 230th in Daily Volume

On June 10, 2025, DraftKings (DKNG) saw a significant increase in trading volume, reaching $428 million, a 70.8% rise from the previous day. This surge placed DraftKings at the 230th position in terms of trading volume for the day. The stock price of DraftKings also rose by 3.76%, marking the third consecutive day of gains, with a total increase of 11.35% over the past three days.

DraftKings is closely monitoring the situation in Illinois, where FanDuel, a competitor, has introduced a $0.50 surcharge on bets to offset the state's recent tax hike. This tax increase, which applies to each wager, starts at $0.25 per bet for the first 20 million wagers and rises to $0.50 thereafter. DraftKings has not yet implemented any fee increases but is evaluating its options in response to the tax changes.

FanDuel's new fee is designed to absorb a significant portion of the increased tax burden, estimated to be around 50% of the additional costs. This move by FanDuel is expected to offset approximately $77 million in annual tax costs, assuming 154 million bets in 2025. DraftKings, which holds a substantial market share in Illinois, is likely to follow suit with similar measures to mitigate the impact of the tax increase.