DraftKings eyes crypto offerings as it expands into prediction markets
DraftKings launched its DraftKings Predictions app, expanding into regulated prediction markets with future plans for crypto-linked contracts.Summary
DraftKings is entering the prediction markets space by launching the DraftKings Predictions app, which allows users to trade contracts on sports and financial outcomes across 38 states, with sports trading permitted in 17.
The company plans to eventually expand these offerings to include contracts linked to cryptocurrency, entertainment, and cultural events. This expansion is supported by regulated derivatives infrastructure via Railbird Exchange, which DraftKings acquired and is registered with the US Commodity Futures Trading Commission (CFTC), ensuring compliance within an established regulatory framework.
While DraftKings' platform is not blockchain-based, its move brings mainstream visibility to prediction markets, a sector popularized by crypto-native platforms like Polymarket and regulated venues such as Kalshi. Other crypto entities, including Gemini and Coinbase, are also expanding into prediction markets.
(Source：Cointelegraph)