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Prediction time: DraftKings and FanDuel are expected to take on Kalshi and Polymarket directly Comments The sports betting world is buzzing over DraftKings's (NASDAQ:DKNG) acquisition of Railbird. The deal is notable because Railbird received its approval as a designated contract market by the Commodity Futures Trading Commission earlier this year. The DCM license allows Railbird to Quick Insights It gives DraftKings access to states like California, Texas, and Florida where regulated online sports betting is not allowed, via regulated event contracts. DraftKings aims to enter broader event prediction markets, allowing trading on real-world outcomes in finance, culture, and entertainment to acquire customers in unregulated states and develop product/technology. The acquisition enables DraftKings to respond to prediction market threats and evolving competition by showing urgency and expanding into new, regulated markets, especially as rivals form similar business partnerships. Recommended For You More Trending News
