DraftKings officially launches into prediction market

US wagering giant DraftKings has formally entered the fast‑growing prediction‑markets sector with the debut of DraftKings Predictions, a stand‑alone app and web platform which will allow users to trade event contracts under U.S. Commodity Futures Trading Commission oversight.

The product will initially offer markets tied to sports and financial outcomes, with plans to expand into entertainment and cultural events. Contracts will be available in 38 states, broadening DraftKings’ reach into major markets such as California, Florida, Georgia and Texas.

The rollout follows DraftKings’ October acquisition of Railbird, a federally licensed prediction‑markets operator, as the company positions itself against incumbents Kalshi and Polymarket.

Other major players, including FanDuel parent Flutter Entertainment, Robinhood, Interactive Brokers and crypto platforms Coinbase and Gemini, are also moving into the predictions space.

The popularity of predictions markets has surged in states where sports betting is yet to be legalised.