DraftKings buys RailBird to enter prediction markets, report says
DraftKings bought RailBird to enter prediction markets, according to the report, which says the company’s shares rose 6% after the announcement. The report also reports that prediction markets handled more than R$10bn in Brazil in October and that Kalshi recorded US$1.3bn in volume in September. It gives no further details about the RailBird transaction.
The reported acquisition signals DraftKings’ entry into prediction markets, a segment the report says is drawing substantial trading volumes.