DraftKings has unveiled a new standalone app for real money prediction markets, becoming the latest major player to enter a field that includes crypto-native platforms like Polymarket and Robinhood event contracts.
The product, called DraftKings Predictions, allows users to trade the results of real-world events, starting with sports and finance, the company announced Friday.
It is registered with the US Commodity Futures Trading Commission (CFTC) and the National Futures Association and will be available in 38 states for buying and selling event contracts.
To deepen its market offering, DraftKings will connect with exchanges such as CME Group and plans to add Railbird Technologies, which it recently acquired. That integration is expected to expand the types of markets available and improve the economy over time, he said.
This move puts DraftKings in direct competition with Polymarket, a popular cryptocurrency-based prediction market platform, and Robinhood (HOOD), which earlier this year launched event contracts for sports results. Unlike Polymarket, which relies on blockchain and stablecoin-based infrastructure, DraftKings operates entirely within the existing financial system and application ecosystem.
Aside from the rise of AI, prediction markets have quietly become one of the biggest financial stories of the year. Betting markets on real-world outcomes (from elections to sports to economic data), once a niche market for cryptocurrencies, have become commonplace. Platforms like Polymarket and Kalshi have reached record volumes, attracting both retail traders and hedge funds, and have become double-digit billion-dollar companies.
What is driving the change is a combination of regulatory clarity and cultural momentum. The CFTC’s approval of certain event contracts has opened the door to more structured and compliant products, while the public appetite for real-time, high-risk speculation has never been stronger.
