Polymarket to serve as clearinghouse for DraftKings’ prediction market following Railbird acquisition
Polymarket will be the clearinghouse for DraftKings' new prediction market after DraftKings acquired Railbird Technologies.Summary
Polymarket founder Shayne Coplan announced that Polymarket Clearing will serve as the designated clearinghouse for DraftKings' upcoming prediction market, following DraftKings' acquisition of Railbird Technologies, a CFTC-regulated contract market. This move significantly boosts Polymarket's business-to-business operations, adding to its existing strength in the global retail predictions sector. Experts suggest the entry of established, retail-friendly platforms like DraftKings will reshape the prediction market landscape, potentially challenging competitors like Kalshi. Railbird had previously indicated plans to use Polymarket as a clearinghouse. This development follows recent major news for Polymarket, including a reported $2 billion investment interest from Intercontinental Exchange, the parent company of the New York Stock Exchange.
(Source：The Block)