DraftKings acquires predictions platform Railbird
Summary
DraftKings is acquiring Railbird as it prepares to launch DraftKings Predictions in the coming months. Railbird brings CFTC licensing for an event contracts exchange and technology that DraftKings wants to use in the new platform. The move lets DraftKings expand beyond sports betting into prediction markets tied to finance, culture, entertainment, and potentially sports. The company also expects to lean on its regulated-gaming experience and identity verification controls as it enters a contested market.
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