Draftkings’ (Nasdaq: DKNG) move marks a strategic leap into a growing niche where users can trade contracts based on real-world outcomes in finance, culture, and entertainment—akin to futures markets but for events rather than commodities.

The acquisition hands Draftkings Railbird’s Commodity Futures Trading Commission (CFTC) license, proprietary technology, and expert team, enabling it to build a fully compliant prediction market platform. Draftkings’ leap into the prediction market ring lands at a time when its stock has taken a 20% haircut since its April 2020 debut.

The bulk of that dip comes from the 30-day stretch between Sept. 21 and Oct. 21, 2025, where DKNG slid 22% against the greenback. Still, the company finally crossed into steady profitability in 2024–2025—years after its IPO—and it’s clearly betting that expansion, not retreat.

Financial details of the deal were not officially disclosed, though Draftkings was advised by Sullivan & Cromwell LLP, while Railbird received counsel from Moelis & Company LLC, Proskauer Rose LLP, and Kirkland & Ellis LLP.

Railbird, led by CEO and co-founder Miles Saffran, operates a CFTC-designated contract market that allows regulated trading of event contracts. Saffran called the deal a “transformational moment,” praising Draftkings’ scale and reputation in gaming innovation.

“Draftkings’ scale and leadership in the industry creates meaningful opportunities for our team and platform,” Saffran remarked.

The acquisition had been rumored since July 2025, signaling Draftkings’ intent to move into the event-trading space. The company now plans to launch “Draftkings Predictions,” a new mobile app expected to go live in early 2026, offering contracts on non-sports events such as elections, pop culture, and economic indicators.

Draftkings is also reportedly allocating about $100 million toward marketing and customer acquisition to promote the product, leveraging its fantasy sports user base and reach in 44 states.

While Draftkings has not confirmed whether sports-related contracts will be included initially, analysts say its focus on non-sports markets could help navigate regulatory complexities. The acquisition extends Draftkings’ diversification strategy, following its entry into digital lotteries through Jackpocket and partnerships with major sports leagues.

Analysts describe the move as a bold step for Draftkings amid rising competition from platforms like Kalshi and Polymarket. Over the last week, these prediction marketplaces recorded $2 billion in global volume. Draftkings’ stock climbed roughly 4.6% in after-hours trading on the announcement, reflecting investor optimism over the firm’s expansion into prediction markets.

By merging Railbird’s regulatory infrastructure with its vast user base, Draftkings aims to pioneer the fusion of traditional gaming and event-driven trading in a sector seen as the next frontier of digital wagering. Draftkings has probably been eyeing the trading frenzy lighting up rival prediction markets—and the fat stacks of funding rolling into Polymarket and Kalshi lately haven’t gone unnoticed either.

• What is Draftkings’ latest acquisition?
  Draftkings acquired Railbird Technologies and its exchange subsidiary to enter the regulated prediction markets space.
• What does Railbird bring to Draftkings?
  Railbird adds a CFTC license, proprietary tech, and an experienced team for regulated event trading.
• When will Draftkings Predictions launch?
  The new mobile app is expected to debut in early 2026 with non-sports event contracts.
• How did markets react to the deal?
  Draftkings’ stock DKNG rose 4.6% in after-hours trading after the acquisition announcement.

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