DraftKings Launches CFTC-Regulated Prediction Markets App in 38 States
According to DraftKings, its standalone Predictions app will be available in major app stores, offering regulated event contract trading on sports and financial markets.
DraftKings announced the release of DraftKings Predictions, a standalone app regulated by the U.S. Commodity Futures Trading Commission, enabling eligible users to trade sports and financial event contracts. The app, available in major app stores, expands DraftKings’ footprint in prediction markets beyond its existing offering in 38 states and connects to major exchanges including CME Group. Planned integration of Railbird Technologies aims to broaden market options and enhance accessibility. This launch positions DraftKings in direct competition with crypto-native platforms such as Polymarket and mainstream fintech firms like Robinhood.
- CFTC (U.S. derivatives regulator): The Commodity Futures Trading Commission, a U.S. government agency overseeing derivatives markets including futures and event contracts.
- Prediction market: A platform where participants trade contracts based on the outcomes of real-world events, such as elections, sports, or financial indicators.
- Event contract: A financial instrument allowing traders to bet on specific real-world events, often regulated by market authorities like the CFTC.