Andrew Walker posted a podcast where he discusses DKNG stock with Tolu Bukola from Aganju Capital. I think the podcast was a condensation of the pitch that Bukola has written up here.
I don’t really have any opinions about Draftkings as a stock. There’s just not anything obvious that jumps out to me in either direction.
I could see the US Supreme Court siding with Kalshi and the CFTC, and saying that prediction market contracts cannot be regulated by the states. I could also see them siding with the states and the Indian tribes.
I could see the U.S. Congress stepping in to resolve the hairball of logic that is required to allow Kalshi to operate, and I could see them doing nothing.
There is one part of this story that I find more interesting than any other, and that is the business competition narrative. The kind of story that airport books are written about.
