DraftKings expands into prediction markets with Railbird Technologies acquisition
The company plans to launch a mobile app called DraftKings Predictions.
US.- DraftKings has announced the acquisition of Railbird Technologies and its subsidiary Railbird Exchange, a federally licensed exchange designated by the Commodity Futures Trading Commission (CFTC) to enter into the prediction markets space. It also plans to launch DraftKings Predictions, a mobile app that will allow customers to trade regulated event contracts on real-world outcomes across finance, culture, and entertainment. The app is expected to debut in the coming months.
Jason Robins, CEO and co-founder of DraftKings, said: “We are excited about the additional opportunity that prediction markets could represent for our business. We believe that Railbird’s team and platform—combined with DraftKings’ scale, trusted brand, and proven expertise in mobile-first products—positions us to win in this incremental space.”
Miles Saffran, CEO and co-founder of Railbird, added: “This is a transformational moment for our company, and we are thrilled to be a part of the future of DraftKings. DraftKings’ scale and leadership in the industry creates meaningful opportunities for our team and platform.”
DraftKings recently released its financial results for the second quarter of 2025, ending June 30. Revenue totalled $1.5bn, up 37 per cent compared to $1.1bn in the same period in 2024. The growth was driven by new customers and favorable outcomes in operations.
The operator’s net income was $158m, up from $63.8m in Q2 2024. Adjusted EBITDA totalled $301m, up from $128m. Monthly unique payers (MUPs) increased to 3.3 million, a 6 per cent rise from Q2 2024. Average revenue per MUP (ARPMUP) increased to $151, up 29 per cent.
