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  "documentTitle": "DraftKings Inc. (DKNG)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-10-03 00:00:00",
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  "density": "balanced",
  "nDataPoints": 24,
  "notes": "The table highlights 24 outcomes where Kalshi's payout is compared against DraftKings; the yellow cells indicate where Kalshi's payout is higher.",
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      "text": "Spruce Point recently tracked 12 games with 24 possible outcomes and Kalshi had better odds in 21 of the 24 outcomes.",
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      "kind": "metric",
      "text": "payout on $100: 21 of 24",
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      "text": "Spruce Point recently tracked 12 games with 24 possible outcomes and Kalshi had better odds in 21 of the 24 outcomes. We acknowledge this data set is limited but we believe Kalshi will predominantly have better odds due to its structure as an exchange.",
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      "text": "Source: See Kalshi odds screenshots in the appendix.",
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      "text": "Comparison table of Kalshi vs DraftKings payouts",
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      "kind": "title",
      "text": "Kalshi Appears To Have Better Odds In Events That We Reviewed",
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      "name": "Cost Of Inaction",
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