DraftKings CEO Defends Sportsbook Dominance Amid Prediction Market Expansion

DraftKings CEO Jason Robins asserts traditional sports betting remains unchallenged by emerging prediction markets, citing structural advantages in volume, variety, and user familiarity. "The product gap is obvious within five minutes of comparison," Robins noted, highlighting superior market depth and pricing in sportsbooks.

European markets demonstrate the niche status of exchange-based betting, capturing only single-digit shares where both formats coexist. This reflects consumer preference for sportsbook models tied to live event engagement, while prediction markets cater to non-sporting events like elections and awards ceremonies.

Despite this stance, DraftKings is strategically expanding into prediction markets through its RailBird acquisition, targeting mobile users in states where sports betting remains prohibited. The MOVE positions the company in untapped markets like California and Texas ahead of potential regulatory changes.