History of DraftKings in Timeline

DraftKings Inc. is a Boston-based American gambling company providing sportsbook and daily fantasy sports (DFS) services. It operates as a prominent player in the online sports betting and gaming industry.

2012: DraftKings Established

In 2012, DraftKings was established by Jason Robins, Matthew Kalish, and Paul Liberman. The company's first product was a one-on-one baseball competition, launched to coincide with Major League Baseball's opening day in 2012.

April 2013: Major League Baseball Invests in DraftKings

In April 2013, Major League Baseball invested in DraftKings, becoming the first US professional sports league to invest in daily fantasy sports.

2013: DraftKings Awards $50 Million in Prizes

In 2013, DraftKings awarded $50 million in prizes in weekly fantasy football, daily fantasy baseball, daily fantasy basketball and daily fantasy hockey.

February 2014: DraftKings Active Users and Registered Players Numbers

In February 2014, DraftKings reported 50,000 active daily users and as many as one million registered players.

July 2014: DraftKings Acquires DraftStreet

In July 2014, DraftKings announced the acquisition of rival DraftStreet, owned at the time by IAC. The acquisition reportedly increased DraftKings' user base by 50%.

August 2014: DraftKings Announces $41 Million in Funding and Acquires StarStreet Assets

In August 2014, DraftKings announced $41 million in funding from investors and also announced that it was acquiring the assets of Somerville, Massachusetts, competitor StarStreet.

November 2014: DraftKings Becomes Official Daily Fantasy Sports Service of NHL

In November 2014, DraftKings reached a two-year deal to become the official daily fantasy sports service of the National Hockey League (NHL).

2014: DraftKings Receives $304 Million in User Entry Fees

In April 2015, DraftKings announced it had received $304 million in users' entry fees in 2014.

April 2015: DraftKings Reaches Deal with Major League Baseball

In April 2015, DraftKings reached an agreement with Major League Baseball (MLB) to offer co-branded MLB daily fantasy games. The company also announced it had received $304 million in users' entry fees in 2014.

July 2015: DraftKings Announces $300 Million in Funding Led by Fox Sports

Also in July 2015, DraftKings announced a round of funding totaling $300 million, led by Fox Sports.

July 2015: DraftKings Enters into Advertising Deal with ESPN Inc.

In July 2015, DraftKings entered into a three-year advertising deal with ESPN Inc. valued at $250 million.

August 2015: DraftKings Granted License by Gambling Commission in the UK

In August 2015, DraftKings announced that it had been granted a license by the Gambling Commission in the United Kingdom and planned to open an office in London.

October 5, 2015: DraftKings Employee Data Leak and FanDuel Win

On October 5, 2015, an article in The New York Times indicated that a DraftKings employee inadvertently released data before the start of week three's NFL football games and won $350,000 on rival fantasy site FanDuel the same week.

January 2016: ESPN Provides Advertising Exclusivity for DraftKings

Beginning in January 2016, DraftKings was to have exclusivity in advertising DFS services on ESPN's networks as part of a deal made in July 2015.

February 5, 2016: DraftKings Launches in the UK with Daily Fantasy Soccer

DraftKings officially launched in the UK on February 5, 2016, with daily fantasy soccer, enhancing its platform for the local audience.

February 2016: ESPN Backs Out of Advertising Deal with DraftKings

In February 2016, ESPN backed out of its advertising deal with DraftKings due to the legal uncertainties surrounding the service.

May 2, 2016: Idaho Attorney General Bans DraftKings and FanDuel

On May 2, 2016, Lawrence Wasden, the Idaho attorney general, banned DraftKings and FanDuel from operating in the state, calling them illegal gambling.

November 18, 2016: DraftKings and FanDuel Announce Intent to Merge

On November 18, 2016, DraftKings and FanDuel announced their intent to merge.

June 19, 2017: FTC Seeks to Block DraftKings and FanDuel Merger

On June 19, 2017, the Federal Trade Commission (FTC) announced that it would seek a preliminary injunction to block the proposed merger between DraftKings and FanDuel.

July 13, 2017: DraftKings and FanDuel Merger Officially Called Off

On July 13, 2017, the merger between DraftKings and FanDuel was officially called off due to the threat of litigation from the FTC.

September 2017: DraftKings and FanDuel Settle with Massachusetts Attorney General

In September 2017, DraftKings and FanDuel each paid $1.3 million to settle with the Massachusetts Attorney General's office over allegations of unfair and deceptive practices by the companies prior to 2016.

May 2018: Expansion into Online and Retail Sportsbooks

In May 2018, DraftKings started expanding into online and retail sportsbooks, leveraging its brand awareness and customer base, amid the widening legalization of sports betting in the United States.

August 2018: DraftKings Launches First Legal Online Sportsbook in New Jersey

In August 2018, DraftKings launched its first legal online sportsbook in New Jersey.

March 2019: Disney Acquires Fox's Stake in DraftKings

Due to the acquisition of 21st Century Fox by Disney in March 2019, Fox's stake in DraftKings is now owned by the Walt Disney Company.

April 2020: DraftKings becomes a publicly traded company

In April 2020, DraftKings became a publicly traded company through a reverse merger with SBTech and Diamond Eagle Acquisition Corp.

April 24, 2020: DraftKings Shares Start Trading on Nasdaq

On April 24, 2020, DraftKings' shares started trading on the Nasdaq stock exchange under the ticker symbol "DKNG".

September 2020: Michael Jordan Becomes Investor and Board Advisor at DraftKings

In September 2020, retired NBA player Michael Jordan became an investor and board advisor at DraftKings.

March 2021: DraftKings Acquires Vegas Stats & Information Network (VSiN)

In March 2021, DraftKings acquired the Vegas Stats & Information Network (VSiN), a Las Vegas-based radio network and digital media platform.

July 2021: DraftKings Reaches $20.64 Billion Market Capitalization

As of July 2021, DraftKings reached a market capitalization of $20.64 billion.

December 2021: DraftKings Sued by Colossus Bets for Patent Infringement

In December 2021, DraftKings was sued by Colossus Bets for patent infringement related to a cash-out feature in their sports betting and gaming products.

May 2022: DraftKings Acquires Golden Nugget Online Gaming

In May 2022, DraftKings acquired Golden Nugget Online Gaming.

September 11, 2023: DraftKings Apologizes for Controversial 9/11 Promotion

On September 11, 2023, DraftKings issued an apology for a controversial promotion that used the 22nd anniversary of the September 11 attacks to encourage betting on games involving New York-based teams.

September 2023: DraftKings Suspends Credit Card Payments

In September 2023, DraftKings suspended credit card payments, following regulatory penalties by the Massachusetts Gaming Commission for violations in 2023 and 2024.

February 2024: DraftKings Acquires Lottery Courier App Jackpocket

In February 2024, DraftKings acquired lottery courier app Jackpocket for $750 million.

July 2024: DraftKings Sells VSiN Back to the Musburger Family

In July 2024, DraftKings sold VSiN back to the Musburger family.

September 2024: DraftKings Fined by SEC for Regulation Fair Disclosure Violation

In September 2024, DraftKings was fined $200,000 by the Securities and Exchange Commission (SEC) for violating Regulation Fair Disclosure.

December 2024: Lawsuit Filed Alleging Encouragement of Gambling Addiction

In December 2024, DraftKings faced a lawsuit from the family of a gambler, claiming the platform fueled the gambler's addiction, leading to losses exceeding $900,000. The suit asserts online betting platforms should identify and exclude problem gamblers.

December 2024: Class Action Lawsuit Filed Alleging Fraudulent Account Closures

In December 2024, Eric Avila, a Texas resident, initiated a class action lawsuit against DraftKings, alleging the company fraudulently closed user accounts and misappropriated remaining balances. Avila alleges his account was terminated under false pretenses and his funds were withheld.

December 2024: Senators Accuse DraftKings and FanDuel of Antitrust Violations

In December 2024, US senators Mike Lee and Peter Welch sent a letter to the FTC and US Department of Justice accusing DraftKings and FanDuel of conspiring to "obstruct or impair competition".

2024: DraftKings Reports Net Loss Despite Revenue Increase

For Q4 2024, DraftKings reported a $200 million net loss despite a 13% year-over-year revenue increase to $1.39 billion, bringing its full-year losses to $507 million. The company secured a $500 million loan to support expansion, with a focus on iGaming regulatory challenges.

2024: Regulatory Penalties by the Massachusetts Gaming Commission

In 2024, regulatory penalties were imposed on DraftKings by the Massachusetts Gaming Commission, contributing to DraftKings' decision to suspend credit card payments.

April 2025: Baltimore Sues DraftKings and FanDuel for Deceptive Practices

In April 2025, the city of Baltimore, Maryland, filed a lawsuit against DraftKings and FanDuel, alleging that the companies engaged in "deceptive and unfair practices by targeting and exploiting vulnerable gamblers in violation of Baltimore's Consumer Protection Ordinance (CPO)."

May 2025: Class Action Lawsuit Filed in Pennsylvania Regarding Deceptive Promotions

In May 2025, a class action lawsuit was filed in Pennsylvania against DraftKings, also citing DraftKings deceptive promotions and predatory advertising.