DraftKings acquires Railbird to enter prediction markets
DraftKings acquired Railbird Technologies and its subsidiary Railbird Exchange, the company said, to support its planned DraftKings Predictions app. The app is expected to launch in the coming months, initially offering event contracts in areas such as finance, entertainment and global affairs, with sports excluded at launch. The purchase price was not disclosed.
Railbird’s acquisition supports DraftKings’ planned prediction-markets app, initially covering event contracts outside sports.