DraftKings expands prediction markets with Crypto.com partnership

DraftKings has announced a deal to broaden its prediction markets by adding new exchange connectivity with Crypto.com, the cryptocurrency platform.

The expansion introduces the first player-specific sports event contracts for the NFL and the NBA and establishes a foundation for future categories including politics, the company said.

The platform will add sports markets across football, mixed martial arts, golf, boxing, tennis and the Olympic Games to complement existing sports and financial markets provided by CME Group, the derivatives marketplace.

Crypto.com is expected to support new event contract categories including culture, entertainment and politics.

Jeanine Hightower-Sellitto, senior vice president and general manager of DraftKings Predictions, said the company was continuing to build momentum by leveraging its expertise across sports and technology and integrating additional exchanges regulated by the Commodity Futures Trading Commission.

DraftKings said its Predictions platform allows eligible customers to make predictions through federally regulated event contracts in states including California, Florida, Georgia and Texas.

The platform integrates its Responsible Trading programme with tools and resources available within the standalone app and at predictions.draftkings.com, the company said.

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The app is available for iOS and Android.

DraftKings said it will integrate Railbird Exchange in the coming months to further strengthen its Predictions offering.

The Recap

• DraftKings expands prediction markets via deal with Crypto.com.
• Adds player-specific NFL and NBA event contracts for customers.
• Railbird Exchange integration planned in the coming months.