DraftKings acquires Railbird and plans prediction markets app
DraftKings announced it had acquired Railbird Technologies and subsidiary Railbird Exchange, giving it access to a Commodity Futures Trading Commission-registered designated contract market. The company said it plans to launch DraftKings Predictions in the coming months, initially offering event contracts on non-sports topics including finance, culture and entertainment.
The acquisition gives DraftKings access to a registered event-contract market and a planned new product beyond sports betting.