DraftKings' prediction market platform DKeX is growing
DraftKings says its private prediction market platform, DKeX, could become the third largest platform in the US. The company says it is not rushing in this area and is paying attention to legal risks.
DraftKings' private prediction market platform, DKeX, has shown notable growth in a short time. Speaking at the NEXTPredict Summit in New York, the company's CEO and co-founder Jason Robins said the platform could become the third largest prediction market platform in the US. Robins emphasized that DraftKings Exchange opened only a few months ago and has already entered the top three in that short period.
The platform draws on DraftKings' experience in daily fantasy sports and traditional sports betting. Prediction markets are currently offered in 18 jurisdictions, while the company's sports betting operates in 38 states. To avoid drawing the attention of regulators, DraftKings is focusing mainly on financial contracts rather than sports event contracts.
Robins acknowledges that the company must avoid legal problems in prediction markets that could put its core business at risk. The company views this product as an additional offering that supports its main business line. While regulators await a Supreme Court ruling, it is not yet clear what future restrictions will look like.
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