DraftKings expands into prediction markets, launching an app for trading contracts on sports and financial outcomes. The app is available in 38 states, with plans to include crypto, entertainment, and cultural events. Trading will be conducted through Railbird Exchange, regulated by the US Commodity Futures Trading Commission.

DraftKings reports third-quarter revenue of $1.14 billion, up 4% year over year. The company expects to generate up to $6.1 billion in revenue this year. While not blockchain-based, DraftKings’ move increases visibility for prediction markets and potential crypto-linked contracts in the US.

Crypto-native platforms like Polymarket have redefined prediction markets, enabling global participation and instant settlement. The rise of platforms like Polymarket coincides with growing interest in event-based trading venues, including US-regulated Kalshi. Bitnomial Clearinghouse plans to support prediction markets tied to cryptocurrency and macroeconomic outcomes.

Coinbase plans to integrate stock trading and prediction markets into its offerings. Gemini cryptocurrency exchange, led by the Winklevoss twins, has launched prediction markets in the US after securing necessary regulatory approvals. Phantom also integrates regulated prediction markets from Kalshi into its wallet.

Read more at Cointelegraph: DraftKings Enters Prediction Markets, Eyes Crypto Contracts