DraftKings weighs crypto event contracts as a growth opportunity

DraftKings chief executive and co-founder Jason Robins said he has become more open to financial event contracts, including cryptocurrency derivatives, after seeing early signs of demand, according to remarks he made at the NEXTPredict Summit in New York City. Robins said he still considers sports betting a better product than prediction markets, but that there are lessons to be taken from them, according to Eilers & Krejcik Gaming analyst Brad Allen.

According to Allen, short-duration Bitcoin contracts make up 10% of contract volume at the top U.S. prediction market when measured on a trailing 30-day average, and they represent 9% of Polymarket U.S. contract volume on that same basis. Allen added that Polymarket U.S. launched these markets only recently and now provides five-minute Bitcoin markets. Robins, meanwhile, said financial event contracts such as timed cryptocurrency derivatives could stay live in all 50 states even if the Supreme Court rules against sports event contracts.

Crypto contracts traded on DraftKings Predictions are not routed through the company's DKeX exchange; they are routed through Crypto.com, which Allen described as a logical partner. Allen said it is possible DraftKings is examining bringing digital currency event contract volume in-house.

Critics say timed cryptocurrency event contracts are gambling in another form, while traders are moving to the derivatives, according to the report. By some estimates, prediction market volume on timed digital currency derivatives rose 44 times in the first seven months of 2026, a period in which prices on major cryptocurrencies, including Bitcoin, were described as languishing for much of the year. The report also noted that if Bitcoin follows its historical four-year cycle, it is likely to bottom this month, if it has not already, before a new bull market sets in.