DraftKings lower after senators seek antitrust probe

Investing.com -- Senators Mike Lee and Peter Welch urged Federal Trade Commission and Dept of Justice to investigate DraftKings Inc (NASDAQ: DKNG) and FanDuel on concerns that both online betting platforms coordinating against competitors.

“We can’t allow online gambling companies like DraftKings and FanDuel to violate antitrust laws, especially as more Americans grapple with the effects of this industry on our society. Requesting that FTC investigate and protect consumers,” Republican Senator Mike Lee posted on social media site X.

DraftKings shares pared their losses and traded at $44.84.

You May Also Be Interested In

• Intel jumps 10% after AI-fueled quarter crushes estimates, upbeat outlook
• Google reports $94 billion stake in SpaceX following historic IPO
• Lockheed Martin stock jumps on earnings beat, raised guidance