DraftKings co-founder Matt Kalish announced he will step down as president of the company in March of 2026. He also explained that he will be remaining on the sports betting and daily fantasy sports leader’s board of directors.
The decision, described in a filing with the Securities and Exchange Commission, reflects a mutual agreement between Kalish and DraftKings. “Mr. Kalish will transition out of his role as President…effective March 31, 2026. He will also receive director compensation in connection with his continued service on the Board of Directors,” the filing stated.
Kalish, who co-founded DraftKings in 2011 with CEO Jason Robins and Paul Liberman, has served as president during major expansion. Under his leadership, DraftKings became a market leader in daily fantasy sports, online sports wagering, and online casino play. The company also executed strategic acquisitions such as Golden Nugget online gaming and Jackpocket during his tenure.
Kalish reflected on his time with DraftKings in a LinkedIn statement. He highlighted the company’s achievements. He also recognized the team behind those successes.
“It has been my privilege to spend the last 14 years building DraftKings from an idea between friends into the household name and global entertainment company it is today,” he wrote. “As proud as I am of the company’s success, I am more proud of the culture we have created to keep the Customer at the center, think big, innovate, and compete fiercely.”
Kalish described the transition as part of a planned succession, expressing confidence in the company’s leadership.
“The succession plan in place is beyond strong, and quite frankly, these leaders have earned the opportunity to take on more responsibility. They are ready to take the company to the next level, and the business has never been in better hands,” he said.
The move coincides with DraftKings’ recent expansion into prediction markets, a segment that remains legally complex in the United States. Kalish is stepping back from daily operations. He will still provide guidance on product strategy. He will advise on innovation from the board.
Looking ahead, Kalish signaled a focus on entrepreneurial ventures outside DraftKings.
“Making this transition will allow me the space to focus on the launch of a new platform focused on partnering with Talent and Brands in the Creator Economy that are underserved by traditional ways of doing business,” he noted, adding that more details would be revealed in mid-December.
Kalish’s departure as president marks the end of an era for DraftKings, a company he helped transform from a startup into a multi-billion-dollar public enterprise.
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