DraftKings is expanding into prediction markets with the acquisition of Railbird Technologies, aiming to compete in the growing space. The move comes as online prediction markets like Kalshi and Polymarket gain popularity, challenging traditional sports betting operators like DraftKings. The purchase will enable DraftKings to launch “DraftKings Predictions,” a mobile app allowing customers to trade event contracts on real-world outcomes. Shares of DraftKings rose 2% following the news, but remain down 8% for 2025. CEO Jason Robins sees the acquisition as positioning the company for success in this evolving market.

Read more at Yahoo Finance: DraftKings Expands Into Prediction Markets Game With Railbird Acquisition