<s>
DraftKings	B-Application
is	O
an	O
American	O
daily	O
fantasy	O
sports	O
contest	O
and	O
sports	O
betting	O
company	O
.	O
</s>
<s>
The	O
company	O
allows	O
users	O
to	O
enter	O
daily	O
and	O
weekly	O
fantasy	O
sports	O
–	O
related	O
contests	O
and	O
win	O
money	O
based	O
on	O
individual	O
player	O
performances	O
in	O
five	O
major	O
American	O
sports	O
(	O
the	O
MLB	B-Application
,	O
the	O
NHL	O
,	O
the	O
NFL	O
,	O
the	O
NBA	O
and	O
the	O
PGA	O
)	O
,	O
Premier	O
League	O
and	O
UEFA	O
Champions	O
League	O
football	O
,	O
NASCAR	O
auto	O
racing	O
,	O
Canadian	O
Football	O
League	O
,	O
the	O
XFL	O
,	O
mixed	O
martial	O
arts	O
(	O
MMA	O
)	O
,	O
Tennis	B-Device
,	O
All	O
Elite	O
Wrestling	O
(	O
AEW	O
)	O
,	O
and	O
WWE	O
.	O
</s>
<s>
DraftKings	B-Application
launched	O
DraftKings	B-Application
Sportsbook	O
in	O
New	O
Jersey	O
.	O
</s>
<s>
Since	O
launching	O
in	O
New	O
Jersey	O
,	O
DraftKings	B-Application
has	O
opened	O
mobile	O
sports	O
betting	O
operations	O
in	O
Connecticut	O
,	O
Indiana	O
,	O
Pennsylvania	O
,	O
West	O
Virginia	O
and	O
New	O
Hampshire	O
on	O
December	O
30	O
,	O
2019	O
after	O
reaching	O
contract	O
with	O
the	O
New	O
Hampshire	O
Lottery	O
.	O
</s>
<s>
In	O
November	O
2016	O
,	O
FanDuel	O
and	O
DraftKings	B-Application
,	O
the	O
two	O
largest	O
companies	O
in	O
the	O
daily	O
fantasy	O
sports	O
industry	O
,	O
reached	O
an	O
agreement	O
to	O
merge	O
.	O
</s>
<s>
As	O
of	O
July	O
2017	O
,	O
DraftKings	B-Application
had	O
eight	O
million	O
users	O
.	O
</s>
<s>
DraftKings	B-Application
became	O
a	O
publicly	O
traded	O
company	O
through	O
a	O
reverse	O
merger	O
with	O
SBTech	O
,	O
a	O
Bulgarian	O
technology	O
company	O
,	O
and	O
special-purpose	O
acquisition	O
company	O
Diamond	O
Eagle	O
Acquisition	O
Corp	O
in	O
April	O
2020	O
.	O
</s>
<s>
DraftKings	B-Application
was	O
established	O
in	O
2012	O
by	O
Jason	O
Robins	O
,	O
Matthew	O
Kalish	O
,	O
and	O
Paul	O
Liberman	O
,	O
former	O
Vistaprint	O
employees	O
.	O
</s>
<s>
The	O
company	O
's	O
first	O
product	O
was	O
a	O
one-on-one	O
baseball	O
competition	O
,	O
launched	O
to	O
coincide	O
with	O
Major	B-Application
League	I-Application
Baseball	I-Application
's	O
opening	O
day	O
in	O
2012	O
.	O
</s>
<s>
In	O
April	O
2013	O
,	O
Major	B-Application
League	I-Application
Baseball	I-Application
invested	O
in	O
DraftKings	B-Application
,	O
becoming	O
the	O
first	O
US	O
professional	O
sports	O
organization	O
to	O
invest	O
in	O
daily	O
fantasy	O
sports	O
.	O
</s>
<s>
The	O
acquisition	O
reportedly	O
increased	O
DraftKings	B-Application
 '	O
user	O
base	O
by	O
50%	O
.	O
</s>
<s>
In	O
November	O
2014	O
,	O
DraftKings	B-Application
reached	O
a	O
two-year	O
deal	O
to	O
become	O
the	O
official	O
daily	O
fantasy	O
sports	O
service	O
of	O
the	O
National	O
Hockey	O
League	O
.	O
</s>
<s>
In	O
April	O
2015	O
,	O
DraftKings	B-Application
reached	O
a	O
similar	O
deal	O
with	O
Major	B-Application
League	I-Application
Baseball	I-Application
.	O
</s>
<s>
The	O
agreement	O
allowed	O
DraftKings	B-Application
to	O
offer	O
co-branded	O
MLB	B-Application
daily	O
fantasy	O
games	O
and	O
extend	O
its	O
relationships	O
with	O
individual	O
MLB	B-Application
clubs	O
to	O
offer	O
in-stadium	O
fantasy-related	O
experiences	O
.	O
</s>
<s>
In	O
July	O
2015	O
,	O
DraftKings	B-Application
entered	O
into	O
a	O
three-year	O
advertising	O
deal	O
with	O
ESPN	O
Inc	O
.	O
valued	O
at	O
$250million	O
.	O
</s>
<s>
Also	O
in	O
July	O
2015	O
,	O
DraftKings	B-Application
announced	O
a	O
round	O
of	O
funding	O
totaling	O
$300million	O
,	O
led	O
by	O
Fox	O
Sports	O
,	O
along	O
with	O
the	O
Kraft	O
Group	O
,	O
owners	O
of	O
the	O
New	O
England	O
Patriots	O
,	O
and	O
Boston	O
financial	O
giant	O
Wellington	O
Management	O
.	O
</s>
<s>
The	O
agreement	O
included	O
a	O
condition	O
stating	O
that	O
DraftKings	B-Application
would	O
spend	O
$250million	O
on	O
advertising	O
with	O
Fox	O
Sports	O
over	O
the	O
next	O
three	O
years	O
.	O
</s>
<s>
In	O
August	O
2015	O
,	O
DraftKings	B-Application
announced	O
that	O
it	O
had	O
been	O
granted	O
a	O
license	O
by	O
the	O
Gambling	O
Commission	O
to	O
operate	O
pool	O
wagering	O
services	O
in	O
the	O
United	O
Kingdom	O
and	O
that	O
it	O
planned	O
to	O
open	O
an	O
office	O
in	O
London	O
.	O
</s>
<s>
DraftKings	B-Application
officially	O
launched	O
in	O
the	O
UK	O
on	O
February	O
5	O
,	O
2016	O
,	O
with	O
daily	O
fantasy	O
soccer	O
.	O
</s>
<s>
As	O
part	O
of	O
the	O
launch	O
,	O
DraftKings	B-Application
enhanced	O
its	O
handling	O
of	O
soccer	O
on	O
the	O
platform	O
to	O
appeal	O
to	O
the	O
local	O
audience	O
.	O
</s>
<s>
The	O
following	O
year	O
,	O
DraftKings	B-Application
was	O
subsequently	O
awarded	O
a	O
controlled	O
skill	O
games	O
license	O
in	O
Malta	O
,	O
which	O
would	O
allow	O
the	O
service	O
to	O
expand	O
into	O
any	O
European	O
Union	O
country	O
that	O
allows	O
gambling	O
services	O
to	O
operate	O
under	O
licensing	O
from	O
another	O
EU	O
country	O
,	O
such	O
as	O
Germany	O
.	O
</s>
<s>
On	O
October	O
5	O
,	O
2015	O
,	O
an	O
article	O
in	O
The	O
New	O
York	O
Times	O
indicated	O
that	O
an	O
employee	O
at	O
DraftKings	B-Application
admitted	O
to	O
inadvertently	O
releasing	O
data	O
before	O
the	O
start	O
of	O
week	O
three	O
's	O
NFL	O
football	O
games	O
.	O
</s>
<s>
Both	O
DraftKings	B-Application
and	O
FanDuel	O
released	O
statements	O
saying	O
that	O
"	O
Nothing	O
is	O
more	O
important	O
...	O
than	O
the	O
integrity	O
of	O
the	O
games	O
we	O
offer	O
to	O
our	O
customers	O
,	O
"	O
and	O
they	O
would	O
work	O
with	O
the	O
entire	O
fantasy	O
sports	O
industry	O
"	O
so	O
that	O
fans	O
everywhere	O
can	O
continue	O
to	O
enjoy	O
and	O
trust	O
the	O
games	O
they	O
love.	O
"	O
</s>
<s>
The	O
following	O
day	O
,	O
New	O
York	O
Attorney	O
General	O
Eric	O
Schneiderman	O
opened	O
an	O
inquiry	O
into	O
DraftKings	B-Application
and	O
FanDuel	O
,	O
asking	O
each	O
site	O
for	O
a	O
range	O
of	O
internal	O
data	O
and	O
details	O
on	O
how	O
they	O
prevent	O
fraud	O
.	O
</s>
<s>
ESPN	O
announced	O
on	O
October	O
6	O
that	O
they	O
would	O
no	O
longer	O
be	O
running	O
segments	O
sponsored	O
by	O
DraftKings	B-Application
,	O
though	O
paid	O
DraftKings	B-Application
advertisements	O
would	O
continue	O
.	O
</s>
<s>
In	O
February	O
2016	O
,	O
ESPN	O
backed	O
out	O
of	O
its	O
advertising	O
deal	O
with	O
DraftKings	B-Application
due	O
to	O
the	O
legal	O
uncertainties	O
surrounding	O
the	O
service	O
.	O
</s>
<s>
On	O
May	O
2	O
,	O
2016	O
attorney	O
general	O
Lawrence	O
Wasden	O
banned	O
DraftKings	B-Application
and	O
FanDuel	O
from	O
operating	O
in	O
Idaho	O
,	O
calling	O
them	O
illegal	O
gambling	O
.	O
</s>
<s>
On	O
November	O
18	O
,	O
2016	O
,	O
DraftKings	B-Application
and	O
FanDuel	O
announced	O
their	O
intent	O
to	O
merge	O
.	O
</s>
<s>
In	O
September	O
2017	O
,	O
DraftKings	B-Application
and	O
FanDuel	O
each	O
paid	O
$1.3	O
million	O
to	O
settle	O
with	O
the	O
Massachusetts	O
Attorney	O
General	O
's	O
office	O
over	O
allegations	O
of	O
unfair	O
and	O
deceptive	O
practices	O
by	O
the	O
companies	O
prior	O
to	O
2016	O
.	O
</s>
<s>
In	O
2021	O
,	O
Draftkings	B-Application
agreed	O
to	O
pay	O
at	O
least	O
$50	O
million	O
over	O
a	O
three-year	O
period	O
to	O
distribute	O
a	O
sports	O
and	O
pop-culture	O
podcast	O
hosted	O
by	O
Dan	O
Le	O
Batard	O
.	O
</s>
<s>
As	O
of	O
July	O
2021	O
,	O
DraftKings	B-Application
reached	O
a	O
market	O
capitalization	O
of	O
$20.64	O
billion	O
.	O
</s>
<s>
In	O
December	O
2021	O
,	O
DraftKings	B-Application
was	O
sued	O
by	O
Colossus	O
Bets	O
over	O
patent	O
infringement	O
.	O
</s>
<s>
Colossus	O
claimed	O
DraftKings	B-Application
infringed	O
seven	O
patents	O
covering	O
sports	O
betting	O
and	O
gaming	O
products	O
with	O
a	O
cash-out	O
feature	O
.	O
</s>
<s>
In	O
May	O
2022	O
,	O
it	O
was	O
announced	O
that	O
DraftKings	B-Application
had	O
acquired	O
the	O
online	O
casino	O
and	O
sports	O
betting	O
operator	O
,	O
Golden	O
Nugget	O
Online	O
Gaming	O
.	O
</s>
<s>
In	O
August	O
2018	O
,	O
DraftKings	B-Application
launched	O
its	O
first	O
legal	O
online	O
sportsbook	O
in	O
New	O
Jersey	O
.	O
</s>
<s>
Since	O
launching	O
in	O
New	O
Jersey	O
,	O
DraftKings	B-Application
has	O
opened	O
sports	O
betting	O
operations	O
in	O
New	O
York	O
,	O
West	O
Virginia	O
,	O
Indiana	O
,	O
Iowa	O
,	O
New	O
Hampshire	O
,	O
Massachusetts	O
and	O
Mississippi	O
.	O
</s>
<s>
In	O
April	O
2020	O
,	O
DraftKings	B-Application
completed	O
a	O
reverse	O
merger	O
valued	O
at	O
$3.3	O
billion	O
that	O
made	O
it	O
a	O
publicly	O
traded	O
company	O
.	O
</s>
<s>
The	O
combined	O
company	O
keeps	O
both	O
DraftKings	B-Application
 '	O
name	O
and	O
its	O
executive	O
management	O
.	O
</s>
<s>
On	O
April	O
24	O
,	O
2020	O
,	O
the	O
company	O
's	O
shares	O
started	O
trading	O
on	O
the	O
Nasdaq	O
stock	O
exchange	O
under	O
the	O
ticker	O
symbol	O
"	O
DKNG	B-Application
"	O
.	O
</s>
<s>
In	O
September	O
2020	O
,	O
retired	O
NBA	O
player	O
Michael	B-Application
Jordan	I-Application
became	O
an	O
investor	O
and	O
board	O
advisor	O
at	O
DraftKings	B-Application
.	O
</s>
