January 9, 2026, 07:33 EST — Premarket
- DraftKings shares rose about 2.6% in premarket trading after the stock closed up 3.8% on Thursday
- Maine governor says she won’t veto a bill that would allow tribal online gambling, letting it become law
- Texas Capital kicks off coverage at Hold, warning volatility could flare around the “hold” and new product launches
DraftKings Inc (DKNG) shares were up about 2.6% in premarket trading on Friday after Maine Governor Janet Mills said she will allow a bill letting tribal nations run online gambling to become law. The stock was changing hands around $36.92. (Public)
Investors have been hunting for new states to greenlight legal online casinos — iGaming, or real-money casino games played online — a business that can throw off steadier revenue than sports betting. DraftKings closed up 3.8% at $35.98 on Thursday, though the stock remains roughly a third below its 52-week high. (MarketWatch)
Mills said she met with chiefs of the Wabanaki Nations and concluded the activity should be regulated, while still raising public-health concerns. “I am confident that Maine’s Gambling Control Unit will develop responsible rules,” she said in a written announcement. (Maine Public)
Maine legislation LD 1164 would let the state’s federally recognized tribes run online casino games and other online gambling under a state rulebook that’s still being written. Online casinos are regulated in seven states — well below the number that allow sports betting — Bangor Daily News reported. (Bangor Daily News)
Texas Capital initiated DraftKings at Hold with a $39 price target, framing the setup as “Neutral but not negative” but cautioning the stock can swing on “hold” — the share of wagers the sportsbook keeps — and the industry’s push into prediction markets. It also flagged potential state tax increases as another pressure point. (TipRanks)
The regulatory tailwind, though, isn’t entirely clean. The Portland Press Herald reported a national anti-iGaming group said it will push a “people’s veto” campaign to reverse the Maine law at the ballot box, warning that online casino play could damage existing casinos and deepen addiction. (The Portland Press Herald)
Broader markets stayed on edge ahead of two possible jabs: the U.S. December jobs report and a Supreme Court decision on the legality of President Donald Trump’s tariffs, either of which could jolt sentiment around consumer and growth stocks. (Reuters)
Investors are tracking Maine’s calendar: The governor’s office said the bill would pass into law after the legislature’s third day, flagging midnight Saturday, January 10 — along with any clues on licensing, tax rates and when the market might launch. At DraftKings, the next big read-through is whether early-2026 betting volumes and promotional spending hold up as the NFL playoffs ramp. (Maine)
