# DraftKings Projects Up to $800M From DKeX as Bank of America Upgrades Stock

- URL: https://stocks.freetheai.org/news/draftkings-projects-up-to-800m-from-dkex-as-bank-of-america-upgrades-stock-e8c24d
- Published: 2026-10-12T11:00:00Z
- Category: company_news; sentiment: mixed; impact: medium
- Symbols: [NASDAQ:DKNG](https://stocks.freetheai.org/symbols/NASDAQ-DKNG)
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DraftKings, Inc. Class A (NASDAQ:DKNG) is projecting $600 million to $800 million in annual revenue from its new DKeX platform by 2027. Launched in June 2026 as a CFTC-regulated event-contract service, DKeX generates income through fees and market-making. Following the rollout, Bank of America upgraded DraftKings to a Buy rating with a $27 price target. The company has also partnered with Flutter Entertainment to launch a U.S. prediction market offering non-sports wagers.

The strategic expansion comes as DraftKings stock faces ongoing headwinds, trading near $19 with a market capitalization of roughly $9.7 billion. Shares are down approximately 44% year-to-date, trading close to a 52-week low of $18.52. While the stock saw insider sales in August 2026 and ARKF exited its holdings during a fund reshuffle, institutional buying has also been recorded.

Investors will be watching whether revenue growth from DKeX and non-sports prediction contracts can offset recent stock pressure and move DraftKings toward its 2027 financial targets. Market participants will also monitor whether institutional support builds following the recent broker upgrade.

## Key points

- DraftKings projects DKeX platform revenue of $600M to $800M by 2027 from market-making and fees.
- Bank of America upgraded DraftKings (NASDAQ:DKNG) to Buy with a $27 price target following the DKeX launch.
- DraftKings launched a U.S. prediction market for non-sports wagers in partnership with Flutter Entertainment.
- Shares of DraftKings trade near $19, down roughly 44% year-to-date and close to its 52-week low of $18.52.
- ARKF exited its DraftKings position during a fund reshuffle, though institutional buying was also noted.

## Questions and answers

### What is DraftKings projecting for DKeX revenue?

DraftKings projects $600 million to $800 million in revenue from its DKeX platform by 2027, generated through fees and market-making.

### Why did Bank of America upgrade DraftKings stock?

Bank of America upgraded DraftKings to Buy with a $27 price target, citing potential revenue of $600 million to $800 million by 2027 from the DKeX rollout.

### How has DraftKings stock performed year-to-date?

DraftKings shares are down approximately 44% year-to-date, trading near $19 and close to a 52-week low of $18.52 with a market capitalization of about $9.7 billion.