DraftKings Volume Rises 34%, BMO Targets $50
On 13 June 2026, BMO Capital Markets reaffirmed its Outperform rating on DraftKings Inc. (NASDAQ:DKNG) and maintained a $50 price target, emphasizing the company’s accelerating momentum in its prediction‑markets product line.
The firm highlighted that in May, DraftKings’ prediction‑market activity showed a 24% month‑over‑month increase in annualized consumer volume, reaching $1.3 billion, while total annualized volume climbed 34% month‑over‑month to $3.1 billion. BMO described the platform as still in the early stages of adoption, suggesting substantial room for further scaling through product investments and marketing initiatives.
In a comparative context, BMO noted that industry leader Kalshi reported an annualized prediction‑market volume of $178 billion in April 2026, up sharply from $5.5 billion in April 2025, with the majority of Kalshi’s volume attributed to sports‑related inventory. This contrast underscores the sizable market opportunity that DraftKings could capture as it expands its sports‑related prediction offerings.
Other brokerage houses echoed a positive outlook: Morgan Stanley reiterated an Overweight rating, citing the volume disclosures as upside to its financial model; Jefferies maintained a Buy rating; and Bernstein kept an Outperform stance.