DraftKings Expands into Prediction Markets with Railbird Acquisition
DraftKings has acquired prediction market platform Railbird ahead of launching its DraftKings Predictions mobile app. The MOVE comes as weekly prediction market volume eclipsed $2 billion for the first time, signaling accelerating mainstream adoption.
The newly licensed platform will initially target states without legal sports betting, offering contracts spanning finance, entertainment and cultural events. Industry projections suggest the prediction market sector could grow at 46.8% annually to reach $95.5 billion by 2035.
This acquisition follows Polymarket's recent purchase of a CFTC-licensed derivatives exchange, highlighting institutional interest in blockchain-based forecasting platforms. The deals underscore how traditional gaming operators are diversifying into crypto-adjacent markets.
