DraftKings | Crypto

DraftKings launches a prediction markets app in 38 states, setting the stage for future crypto-linked contracts under a regulated US derivatives framework. DraftKings is expanding beyond sports betting into the realm of prediction markets, laying the groundwork for future crypto-linked contracts as regulated event trading gains momentum in the United States. As Bloomberg reported, the company announced on Friday that it has launched the DraftKings Predictions app, which allows users to trade contracts on sports and financial outcomes. At launch, the app is available in 38 states, with sports-related trading permitted in 17 of them. DraftKings ultimately plans to expand its prediction market offerings beyond sports and finance to include contracts linked to crypto, entertainment and cultural events, according to Bloomberg. Read more

DraftKings launches a prediction markets app in 38 states, setting the stage for future crypto-linked contracts under a regulated US derivatives framework. DraftKings is expanding beyond sports betting into the realm of prediction markets, laying the groundwork for future crypto-linked contracts as regulated event trading gains momentum in the United States. As Bloomberg reported, the company announced on Friday that it has launched the DraftKings Predictions app, which allows users to trade contracts on sports and financial outcomes. At launch, the app is available in 38 states, with sports-related trading permitted in 17 of them. DraftKings ultimately plans to expand its prediction market offerings beyond sports and finance to include contracts linked to crypto, entertainment and cultural events, according to Bloomberg. Read more

Polymarket will act as a clearinghouse for DraftKings’ upcoming prediction market platform, following its acquisition of Railbird earlier this week. American sports betting platform DraftKings is tapping Polymarket as the clearinghouse for its new prediction market, an industry that clocks over $4 billion in monthly trading volume. “Congrats to DraftKings on their acquisition of Railbird. We’re proud for Polymarket Clearing to be their designated clearinghouse as they enter the prediction market space,” Polymarket CEO Shayne Coplan said in an X post on Wednesday. Railbird is a Commodity Futures Trading Commission-regulated predictions market platform, which DraftKings acquired for an undisclosed amount on Tuesday. Read more