DraftKings CEO says Polymarket-style prediction markets may open more US states to sports betting

DraftKings CEO Jason Robins expressed optimism about the company's upcoming DraftKings predictions market, viewing it as a way to reach new customers and expand their total addressable market, especially in states where online sports betting is not yet legal. DraftKings is launching this market following its acquisition of Railbird Technologies, with Polymarket set to serve as the designated clearinghouse. While Robins sees potential, he downplayed the idea that prediction markets would challenge DraftKings' core sports betting business, noting they are structurally limited. However, he suggested that the growth of federally-regulated prediction markets, which are available in all 50 states, could motivate more states to legalize traditional online sports betting, as nearly half the US population currently lacks access to it.

(Source：The Block)