Why DraftKings Is Down 4% Today

Shares of DraftKings (NASDAQ: DKNG) were down 4% in afternoon trading Monday after Florida Republicans delayed the launch of sports betting in the state until October. They also killed a deal with the Seminole Tribe for a broad expansion of online gambling.

Gov. Ron DeSantis had worked out a deal with the Indian nation to authorize sports betting and even micro-betting, or bets on outcomes of events occurring within an event. It would have also allowed the state to negotiate again with the tribe in three years to authorize additional forms of online and mobile gaming.

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Source Fool.com