History of DraftKings in Timeline

DraftKings Inc., headquartered in Boston, Massachusetts, is an American gambling company specializing in sportsbook and daily fantasy sports (DFS) services. It operates as a platform allowing users to participate in sports-related contests and wagering. The company has grown to become a major player in the online gaming and sports entertainment industry.

April 2013: Major League Baseball Invests in DraftKings

In April 2013, Major League Baseball (MLB) invested in DraftKings, becoming the first U.S. professional sports league to invest in daily fantasy sports.

February 2014: DraftKings reports prize payouts and user base growth

In February 2014, DraftKings reported awarding $50 million in prizes in 2013 and having 50,000 active daily users, with up to one million registered players.

July 2014: DraftKings Acquires DraftStreet

In July 2014, DraftKings acquired DraftStreet from IAC, increasing its user base by 50% and retaining some DraftStreet employees.

August 2014: DraftKings Announces Funding and Acquisition of StarStreet Assets

In August 2014, DraftKings announced $41 million in funding from various investors, including the Raine Group, and acquired the assets of competitor StarStreet.

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

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

April 2015: DraftKings reaches deal with MLB

In April 2015, DraftKings reached a deal with Major League Baseball (MLB) to offer co-branded MLB daily fantasy games and in-stadium experiences.

July 2015: DraftKings Announces Funding Round Led by Fox Sports

In July 2015, DraftKings announced a $300 million funding round led by Fox Sports, with a condition to spend $250 million on advertising with Fox Sports over three years.

July 2015: DraftKings Enters Advertising Deal with ESPN

In July 2015, DraftKings entered a three-year, $250 million advertising deal with ESPN Inc., integrating its service into ESPN's content with exclusivity in DFS advertising starting January 2016.

August 2015: DraftKings Granted License in the UK and Plans London Office

In August 2015, DraftKings was granted a license by the Gambling Commission in the United Kingdom and planned to open an office in London to expand internationally.

October 5, 2015: DraftKings Employee Data Leak and Subsequent Inquiry

On October 5, 2015, an employee at DraftKings admitted to inadvertently releasing data before NFL games, leading to an inquiry by the New York Attorney General into DraftKings and FanDuel.

February 5, 2016: DraftKings Officially Launches in the UK

On February 5, 2016, DraftKings officially launched in the UK 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 legal uncertainties surrounding the service.

May 2, 2016: Idaho Bans DraftKings and FanDuel

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

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

On November 18, 2016, DraftKings and FanDuel announced their intention to merge, creating a company with over five million users.

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

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

July 13, 2017: DraftKings and FanDuel Merger Called Off

On July 13, 2017, DraftKings and FanDuel officially called off their merger due to the threat of litigation from the Federal Trade Commission (FTC).

September 2017: DraftKings Settles 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 practices before 2016.

May 2018: DraftKings expands into sportsbooks

In May 2018, DraftKings began expanding into online and retail sportsbooks to capitalize on its brand and customer base as sports betting legalization widened 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 following the Supreme Court's decision to allow states outside of Nevada to legalize sports betting.

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 Begin Trading on Nasdaq

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

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 sports betting news and analysis platform.

July 2021: DraftKings Reaches Market Capitalization of $20.64 Billion

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 sports betting products.

May 2022: DraftKings Acquires Golden Nugget Online Gaming

In May 2022, DraftKings acquired Golden Nugget Online Gaming.

September 11, 2023: DraftKings Issues Apology for 9/11 Promotion

On September 11, 2023, DraftKings apologized for a controversial promotion using the 22nd anniversary of the September 11 attacks to encourage betting, quickly removing it after backlash.

September 2023: DraftKings Suspends Credit Card Payments

In September 2023, DraftKings suspended the use of credit cards as a payment method following regulatory penalties.

February 2024: DraftKings Acquires Jackpocket

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

July 2024: DraftKings Sells VSiN Back to 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, the Securities and Exchange Commission (SEC) fined DraftKings $200,000 for violating Regulation Fair Disclosure when the company's PR team shared material, non-public information on CEO Jason Robins's personal LinkedIn and X accounts before its official earnings release.

December 2024: Senators Call for Investigation into DraftKings and FanDuel

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" and encouraging an investigation of their actions following their failed merger in 2016.

December 2024: Lawsuit Filed Against DraftKings for Encouraging Problem Gambler's Addiction

In December 2024, a lawsuit was filed against DraftKings by the spouse and children of a gambler, alleging that the company actively encouraged a known problem gambler's addiction, leading to significant losses.

December 2024: Class Action Lawsuit Filed Against DraftKings for Fraudulent Account Closures

Later in December 2024, a class action lawsuit was filed in Massachusetts by Eric Avila, alleging that DraftKings fraudulently closed users' accounts and stole their remaining balances.

2024: Regulatory Violations

In 2024, DraftKings faced regulatory penalties from the Massachusetts Gaming Commission for violations.

2024: DraftKings Reports Net Loss Despite Revenue Increase

In 2024, DraftKings reported a $200 million net loss for Q4 despite a 13% year-over-year revenue increase to $1.39 billion, resulting in full-year losses of $507 million, and the company secured a $500 million loan to support expansion, focusing on iGaming regulatory challenges.

April 2025: Baltimore Sues DraftKings for Deceptive Practices

In April 2025, the city of Baltimore, Maryland, filed a lawsuit against DraftKings, alleging deceptive and unfair practices targeting vulnerable gamblers.

May 2025: Class Action Lawsuit Filed in Pennsylvania Against DraftKings

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

June 2025: DraftKings Forms Corporate Political Action Committee

In June 2025, DraftKings filed with the Federal Election Commission to establish a corporate political action committee to support candidates and organizations interested in issues affecting their business.