Investors need to pay close attention to DraftKings (DKNG) stock based on the movements in the options market lately.
DraftKings and FanDuel-parent Flutter Entertainment both fell after the Illinois Senate advanced a budget that would more than double online sports betting taxes.
(Bloomberg) -- DraftKings Inc. and FanDuel-owner Flutter Entertainment Plc fell on Tuesday after the Illinois Senate passed legislation that would raise taxes on sports betting.Most Read from BloombergWall Street Returns to T+1 Stock Trading After a CenturyTreasuries Hit as US Sales Struggle to Lure Buyers: Markets WrapWorld’s Largest Nuclear Plant Sits Idle While Energy Needs SoarFor Private Credit’s Top Talent, $1 Million a Year Is Not EnoughMortgages Stuck Around 7% Force Rapid Rethink of Ame