$10M DraftKings NFT class action settlement

DraftKings Inc. agreed to pay $10 million to resolve claims that its non-fungible tokens (NFTs) were unregistered securities.

The DraftKings NFT class action settlement benefits individuals or entities who purchased, acquired, sold, disposed of, owned, held, used or otherwise transacted in NFTs in a DraftKings account from Aug. 11, 2021, through Feb. 28, 2025.

DraftKings is an online sports betting platform that allows users to place bets on various sporting events. The company also sells NFTs, which are unique digital assets that can be bought, sold and traded.

According to the DraftKings NFT class action lawsuit, DraftKings violated federal and state securities laws by selling unregistered securities in the form of NFTs. Plaintiffs in the case say DraftKings’ NFTs were actually securities because they were traded on the DraftKings Marketplace and were tied to the performance of sports players and teams.

The plaintiffs also challenged the legality of the DraftKings Marketplace, which allegedly operated as an unregistered securities exchange.

DraftKings has not admitted any wrongdoing but agreed to a $10 million class action settlement to resolve the allegations.

Under the terms of the DraftKings NFT class action settlement, class members can receive a cash payment based on the amount they paid for NFTs and other factors.

Class members who purchased NFTs on the primary market (drops) or secondary market (the marketplace) can receive a payment. Class members who sold their NFTs on the secondary market or received a payment from DraftKings in connection with its marketplace shutdown offer may have their payments reduced.

The deadline for exclusion and objection is July 9, 2025.

The final approval hearing for the DraftKings NFT class action settlement is scheduled for July 30, 2025.

To receive a settlement payment, class members must submit a valid claim form by July 21, 2025.

Who’s Eligible

The settlement benefits those who purchased, acquired, sold, disposed of, owned, held, used or otherwise transacted in NFTs in a DraftKings account from Aug. 11, 2021, through Feb. 28, 2025.

Potential Award

Cash payment depends on the amount paid and the type of market purchase.

Proof of Purchase

DraftKings account number and/or transaction information.

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

07/21/2025

Case Name

Dufoe v. DraftKings Inc., et al., Case No. 1:23-cv-10524-DJC, in the U.S. District Court for the District of Massachusetts

Final Hearing

07/30/2025

Settlement Website

DraftKingsNFTSettlement.com

Claims Administrator

DraftKings NFT Settlement
c/o A.B. Data Ltd.
P.O. Box 173039
Milwaukee, WI 53217
[email protected]
877-883-9186

Class Counsel

Anthony F. Fata
KIRBY MCINERNEY LLP

Defense Counsel

Brian T. Frawley
SULLIVAN & CROMWELL LLP