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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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.