Shares of sports betting company DraftKings Inc. (DKNG) were falling more than 6 percent in pre-market on Tuesday to $38.01, the Illinois Senate approved a progressive sports betting tax rate based on revenue.
As per the revised regimen, companies having more then $200 million in adjusted gross revenue would be taxed at 40 percent, significantly higher than the current 15 percent.
DraftKings shares had closed at $40.81, up 0.52 percent on Friday. The stock has traded in the range of $22.92 - $49.57 in the last 1 year.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.