DraftKings eyes crypto offerings as it expands into prediction markets

DraftKings launches a prediction markets app in 38 states, setting the stage for future crypto-linked contracts under a regulated US derivatives framework.

DraftKings is expanding beyond sports betting into the realm of prediction markets, laying the groundwork for future crypto-linked contracts as regulated event trading gains momentum in the United States.

As Bloomberg reported, the company announced on Friday that it has launched the DraftKings Predictions app, which allows users to trade contracts on sports and financial outcomes. At launch, the app is available in 38 states, with sports-related trading permitted in 17 of them.

DraftKings ultimately plans to expand its prediction market offerings beyond sports and finance to include contracts linked to crypto, entertainment and cultural events, according to Bloomberg.

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