
When will DraftKings new prediction markets product launch?
Today.
DraftKings announced Friday the launch of their new product - DraftKings Predictions - formally entering the volatile and wild prediction markets space in 38 states, 17 of them with sports event contracts.
These include some states that do not have sports wagering legally available such as California, Florida, Georgia and Texas.
Under the oversight of the U.S. Commodity Futures Trading Commission (CFTC), DraftKings Predictions is a new standalone mobile app and web product that allows customers to trade on real-world outcomes across a wide range of markets, with sports and finance available initially, and additional categories such as entertainment and culture expected in the future.
Customers can download the DraftKings Predictions app for iOS or Android.
“DraftKings Predictions is a significant milestone and reflects our ongoing commitment to delivering products that tap into the passion of our customers,” said Corey Gottlieb, Chief Product Officer of DraftKings, in a news release. “We will create an unparalleled customer experience, leveraging key strategic relationships like ESPN and NBCUniversal to provide an authentic, real-time product that moves at the speed of sports. Along with our operational footprint, marketing and analytics infrastructure and advanced in-house technology, we believe we are uniquely positioned to lead this space over the long term.”
DraftKings Predictions plans to connect to multiple exchanges, with CME Group to start, and will give eligible customers the full breadth of markets, including global benchmarks, economic indicators, and sports contracts. This will include the planned rollout of recently acquired Railbird Technologies Inc. and its wholly owned subsidiary, Railbird Exchange, LLC.
Similar to their sports wagering product, DraftKings has extended its responsible gaming best practices to this new space, where customers will have the tools, just like sports betting, to set deposit limits, take cool-offs or self-exclude, and access educational materials.
To kick off the launch, customers have a chance to win $1 million through the new app, with multiple ways to enter. In states where sports event contracts are available, customers can also receive up to a $25 trade bonus based on their first trade.

Today's launch becomes the fourth sports company to enter the ever-changing prediction market space. Fanatics launched their product earlier this month and PrizePicks, along with Underdog, already have products available.
FanDuel will launch their product by the end of the year.
Crypto.com, Kalshi, Polymarket, and Robinhood all have products that have been popular among users in the space.
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