The post DraftKings Prediction Market App Will Focus on States Without Legal Sports Betting appeared on BitcoinEthereumNews.com.

In brief DraftKings acquired prediction market company Railbird to launch its DraftKings Predictions app. The deal comes as prediction market volume surpassed $2 billion weekly for the first time. A source familiar with the company told Decrypt the app will initially focus on states without legal sports betting. DraftKings has acquired prediction market company Railbird for an undisclosed amount ahead of launching its DraftKings Predictions mobile app. The deal had been rumored for months. The news arrives as total weekly prediction market volume soared above $2 billion for the first time last week as interest in the platforms surges. An oft-cited Certuity report estimates that prediction markets could reach $95.5 billion by 2035, with a compound annual growth rate of 46.8%. Railbird has held a designated contract market license since June, according to the Commodities Futures Trading Commission. The license allows it to self-certify and offer event contracts. DraftKings said in a press release that its new app will give users access to “finance, culture, and entertainment” contracts, the company said in a press release. There have been lots of deals and surging interest in the prediction market industry this year.  In July, current prediction market volume frontrunner Polymarket acquired CFTC-licensed derivatives exchange QCX for $112 million. The company began self-certifying its own event contracts at the start of the month. Meanwhile, Kalshi, another early player, has been engaged in legal battles with multiple states and Native American tribes over jurisdiction. Kalshi and other prediction markets have been operating on the premise that because they are regulated by the CFTC, they do not need individual licenses from the states in which they operate. Paul Zilm, a sports betting operations expert and full-time trader at prediction market firm Mojo, said he’s interested to see how the news of the DraftKings…

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Filed under: News - @ October 23, 2025 2:28 am