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Is DraftKings Stock a Buy Now?

TheMotleyFool

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The market for legal sports betting is booming. Market Consult reports that the sports betting market doubled in size in 2021, with Americans wagering more than $52.7 billion during the year.

It raises the question: Is now the time to invest in sports betting companies? And specifically, is DraftKings (NASDAQ: DKNG) a buy right now?

In 2018, the Supreme Court struck down the Professional and Amateur Sports Act. This cleared the way for U.S. states to set their own rules and regulations on sports betting. Over the last four years, many states have jumped on the bandwagon and legalized sports betting.

Source Fool.com

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