Why DraftKings Stock Jumped Today

Shares of DraftKings (NASDAQ: DKNG) climbed 9% on Thursday after voters in three more states approved measures to legalize sports betting.  

Maryland, South Dakota, and Louisiana will soon allow bets to be placed on sporting events. They'll join 21 other states that already allow such wagers. As a leading daily fantasy sports contest and sports betting platform, DraftKings -- and its investors -- stand to profit handsomely from these developments.

DraftKings' stock surged after more states legalized sports betting. Image source: Getty Images.

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Source Fool.com