Shares of sports betting and iGaming giant DraftKings (DKNG -11.59%) fell 10.2% on Tuesday as of 12:32 p.m. DraftKings didn't have any company-specific news today, but was rather affected by the success of an up-and-coming privately owned competitor. Surging sports betting volumes on Kalshi could be a competitive threat to DraftKings and its public competitors, which were also in the red today. In addition to the positive Kalshi data, today also saw a worse-than-expected September consumer sentiment reading from The Conference Board. DraftKings and consumer stocks under pressureDraftKings currently trades at 28 times this year's earnings expectations and 18.6 times 2026 earnings estimates.