Photo: Bruce Bennett/Getty Images

DraftKings is in talks to go public via a reverse merger with a blank-check acquisition company called Diamond Eagle, as first reported by Bloomberg and confirmed by Axios.

The state of play: If this sounds familiar, it's because Diamond Eagle's management had a prior blank-check company called Platinum Eagle that kicked tires on FanDuel (which was later acquired by Paddy Power Betfair).

  • DraftKings and FanDuel had once agreed to merge, but were blocked by federal antitrust regulators.
  • Diamond Eagle, led by veteran media executive Jeff Sagansky and aided by former MGM CEO Harry Sloan, raised $350 million in its IPO earlier this year. DraftKings hit a peak valuation of around $2 billion in 2015, but later pulled back.
  • Diamond Eagle is currently the clubhouse leader for DraftKings, but word is that there also have been discussions with other strategic and private equity suitors. Not yet hearing anything on price. Expect resolution of some sort by year-end.

Go deeper: DraftKings CEO Jason Robins on Axios' Pro Rata Podcast

Go deeper

Dion Rabouin, author of Markets
54 mins ago - Economy & Business

Investors are betting the future is priced in euros

Illustration: Aïda Amer/Axios

It's the euro's time now — at least that's how investors have been positioning recently.

What's happening: Speculators have raised their bets to the highest in nine years that the dollar will fall and increased bullish bets that the euro will rise to the highest level on record, Reuters reported citing data from the CFTC.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 20,317,087 — Total deaths: 742,035— Total recoveries: 12,602,544Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 5,141,879 — Total deaths: 164,545 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten and Pac 12 scrap fall footballMLB salaries at 37%
  7. World: Lebanon reported record new cases as UN warned blast may drive spike — Fauci "seriously" doubts Russia's coronavirus vaccine is safe
Mike Allen, author of AM
2 hours ago - Politics & Policy

3 keys to Joe Biden picking Kamala Harris

Photo: Jeff Kowalsky/AFP via Getty Images

Three quick points about Joe Biden's historic selection of Sen. Kamala (pronounced COMMA-luh) Harris of California as his running mate — and clues they give us to how Biden would govern:

  1. She was always at the top of his list. As I look back through my text threads with top Dems over the past five months, she was always assumed to be the most likely pick.