DraftKings and FanDuel score a major win after the ballot measure to allow sportsbetting in Missouri barely scrapes by [Fortune]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Fortune
State election officials on Thursday certified that the sports betting measure passed with 50.05% support in the November election. Although the constitutional amendment takes effect now, betting won't immediately begin. Under Missouri's measure, state regulators must launch sports betting no later than Dec. 1, 2025. A total of 38 states and Washington, D.C., already allow sports betting , which has expanded rapidly since the U.S. Supreme Court cleared the way for it in 2018. The $43 million campaign — a record for a Missouri ballot measure — was funded almost entirely by DraftKings and FanDuel, which dominate the nationwide sports betting marketplace. Of the total raised, a combined $2 million was chipped in by the state's six major professional sports teams — the St. Louis Cardinals, St. Louis Blues, Kansas City Chiefs, the Kansas City Royals, and the Kansas City Current and St. Louis City soccer teams. The $14 million opposition campaign was funded entirely by Caesars Ente
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