DraftKings reports positive return from new market-making arm
DraftKings chief executive Jason Robins said on the company’s first-quarter earnings call that its market-making arm, launched earlier this year, had already produced a positive return. The company plans to pair those capabilities with a proprietary prediction-market exchange through its subsidiary Railbird Exchange LLC, and Robins said it aims to expand the business.
The reported positive return and planned exchange indicate DraftKings is expanding its prediction-market activities.