A new report indicates that DraftKings could enter the predictions market. The company has registered with the National Futures Association (NFA), as websites and companies like Polymarket surge in popularity.
DraftKings Predict is expected to be similar in scope to places like Polymarket. Rather than betting on sports directly, Predict will operate within the prediction market, which allows people to bet on everything from world events to politics.
On the NFA’s website, DraftKings’ headquarters and number are listed. It will also include several of DraftKings’ executives, with the company’s co-founder listed as CEO, too.
It was only last month that DraftKings’ CEO, Jason Robins, said the company was waiting for the next few months before jumping in. During the call, Robins said:
“So, I think there’s some, in the next couple of months, 60 days or so, there’s going to be a CFTC ruling and all sorts of other things, so I think we’ll know a lot more over the next few months.”
The company has been watching the gambling vertical for some time now. In conclusion, Robins said, “It’s certainly something that we have a keen interest in seeing how it plays out.”
DraftKings eyes prediction markets
Prediction markets have become incredibly popular over the last couple of years. Polymarket regularly has bets with hundreds of thousands of dollars behind them but has been under extreme scrutiny. In November, the FBI raided the CEO’s home and confiscated his phone. This came after it correctly predicted Trump’s win in the 2024 election.
However, DraftKings is probably more interested in the $3.6 billion dollars it brought in from just the presidential election. Right now, there’s a $430,993 volume behind a prediction as to whether the US will enter a recession.
If DraftKings Predict coalesces, it has the chance to get the jump on Polymarket. The website has been blocked from US citizens since 2022.
