DraftKings CEO warns against prediction market wagers on earnings calls

There’s a certain irony in the CEO of a company spending up to $300M on prediction markets telling people to stop betting on prediction markets. But Jason Robins wants you to know there’s a difference. During DraftKings’ Q2 2026 earnings call on August 7, Robins took aim at the growing practice of wagering on what executives will say during corporate earnings presentations. His verdict: it “probably should not be out there.” The buzzword betting game While Robins was speaking, prediction market platform Kalshi was running live contracts on the very call he was conducting. Traders could bet on whether specific terms would come up during the presentation, turning a routine corporate event into something resembling a drinking game with financial stakes. Kalshi markets showed a 96% probability that “World Cup” would be mentioned during the call. Contracts on whether Robins would say “competitor” ranged from 68% to 89% probability. Bets on whether he’d utter “super app” or “combo” traded at lower percentages. DraftKings’ prediction market paradox DraftKings has earmarked $200M to $300M for its predictions business in 2026. The company views prediction markets as a significant growth opp...