DraftKings (DKNG) announced the acquisition of Railbird Technologies and its wholly owned subsidiary, Railbird Exchange, a federally licensed exchange designated by the Commodity Futures Trading Commission. The acquisition supports DraftKings’ broader strategy to enter prediction markets, expanding its addressable opportunity through regulated event contracts. The company also confirmed plans to launch DraftKings Predictions, a forthcoming mobile application that will allow customers to trade regulated event contracts on real-world outcomes across finance, culture, and entertainment. DraftKings Predictions is expected to debut as a mobile application in the coming months.
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