DraftKings has unveiled a new standalone app for real money prediction markets, becoming the latest major player to enter a field that includes crypto-native platforms like Polymarket and Robinhood’s event-driven contracts.
The product, called DraftKings Predictions, allows users to trade on the outcomes of real-world events, starting with sports and finance, the company announced Friday.
It is registered with the U.S. Commodity Futures Trading Commission (CFTC) and the National Futures Association and will be available in 38 states to buy and sell event contracts.
To deepen its marketplace offering, DraftKings will connect with exchanges like CME Group and plans to incorporate Railbird Technologies, which it recently acquired. This integration is expected to expand the types of markets available and improve the economic situation over time, he added.
The move puts DraftKings in direct competition with Polymarket, a popular crypto-based prediction market platform, and Robinhood (HOOD), which earlier this year launched event contracts for sports scores. Unlike Polymarket, which relies on blockchain-based infrastructure and stablecoins, DraftKings operates entirely within the existing financial system and application ecosystem.
Besides the AI boom, prediction markets have gradually become one of the biggest financial stories of the year. Once a niche corner of crypto, markets for betting on real outcomes – from elections to sports to economic data – have become commonplace. Platforms like Polymarket and Kalshi saw record volumes, attracting both retail traders and hedge funds, and became double-digit billion dollar companies.
This change is driving a mix of regulatory clarity and cultural dynamics. The CFTC’s green light for certain event-driven contracts has opened the door to more structured and compliant products, while the public’s appetite for real-time, high-stakes speculation has never been stronger.
