DraftKings has announced a new standalone app for real-money prediction markets, becoming the latest major player to enter a space that includes crypto-native platforms such as Polymarket and Robinhood's event contracts.
The product, called DraftKings Predictions, will allow users to trade the outcomes of real-world events, including sports and finance, the company announced Friday.
It is registered with the U.S. Commodity Futures Trading Commission (CFTC) and the National Futures Association and will be available for buying and selling event contracts in 38 states.
To enhance its market offerings, DraftKings plans to connect with exchanges such as CME Group and incorporate its recent acquisition Railbird Technologies. The company said the combination is expected to expand the types of markets available and improve economics over time.
The move puts DraftKings in direct competition with Polymarket, a popular crypto-based prediction market platform, and Robinhood (HOOD), which launched event contracts for sports outcomes earlier this year. Unlike Polymarket, which relies on blockchain-based infrastructure and stablecoins, DraftKings operates entirely within the existing financial system and app ecosystem.
Aside from the AI boom, prediction markets have quietly become one of the biggest financial news stories of the year. Once a niche corner of cryptocurrencies, the market for betting on real-world outcomes, from elections to sports to economic data, has burst into the mainstream. Platforms like Polymarket and Kalshi have posted record trading volumes, attracted retail traders and hedge funds alike, and become double-digit billion-dollar companies.
Driving this change is a combination of regulatory clarity and cultural momentum. The CFTC's green light on certain event contracts opens the door to more structured and compliant products, while the public's appetite for real-time high-stakes speculation has never been greater.
