DraftKings is expanding beyond traditional sports betting into predictive markets, with plans to introduce cryptocurrency-linked contracts. The company launched the DraftKings Prediction app to enable users to trade contracts based on sports outcomes as well as financial results. The app is available in 38 states, with 17 of those states permitting sports-related trades.
DraftKings plans to broaden into cryptocurrency, entertainment, and cultural events. To support this expansion, DraftKings acquired Railbird Exchange, a derivatives exchange registered with the U.S. Commodity Futures Trading Commission (CFTC) that provides a regulatory framework to offer event-based contracts. This framework supports the rollout of crypto-linked contracts while helping ensure compliance as the platform scales.
The move signals a growing convergence of sports betting, predictive markets, and crypto-enabled products in regulated markets. It reflects broader industry trends toward diversified contract-based trading.
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