DraftKings has decided to discontinue its non-fungible token (NFT) business, including the Reignmakers fantasy sports game and its NFT Marketplace, due to recent legal developments. This move comes after a federal court ruling on July 2, 2024, determined that DraftKings' NFTs could be classified as securities under the Securities Act and Exchange Act. The court's decision followed a class action lawsuit that argued the NFTs met the criteria for an investment contract based on the Howey test, which evaluates whether a financial instrument involves an investment of money in a common enterprise with the expectation of profit from others' efforts​.