DraftKings enters prediction markets with CFTC-approved app for real-world events
DraftKings launched DraftKings Predictions, a CFTC-registered app for trading real-money event contracts in 38 states.Summary
Sports-betting giant DraftKings has introduced DraftKings Predictions, a new standalone app for real-money prediction markets, positioning itself against crypto-native platforms like Polymarket and Robinhood's event contracts. The product is registered with the U.S. Commodity Futures Trading Commission (CFTC) and the National Futures Association, allowing users to trade on outcomes of real-world events, starting with sports and finance, across 38 states. DraftKings plans to integrate its recent acquisition, Railbird Technologies, and connect to exchanges like CME Group to expand market offerings and improve economics. Unlike blockchain-reliant platforms, DraftKings operates entirely within the existing financial system. This move capitalizes on the mainstream surge in prediction markets, driven by regulatory clarity from the CFTC and high public appetite for speculation.
(Source：CoinDesk)