Northland lowered the firm’s price target on DraftKings (DKNG) to $30 from $33 and keeps an Underperform rating on the shares. Kalshi announcing it raised an incremental $300M, valuing the company at $5B, and that it is now tracking for $50B in annualized trading volume and Polymarket securing a $2B investment from IntercontinentalExchance (ICE), owner of the NYSE, highlight the growing threat prediction markets represent to sportsbooks, the analyst tells investors.
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