DraftKings has partnered with Polymarket to launch a regulated prediction market in the U.S., leveraging Polymarket as the clearinghouse for its new app, "DraftKings Predictions."
This partnership signals a significant step toward mainstream institutional acceptance of crypto-based prediction markets, potentially influencing Ethereum and Binance Chain ecosystems with new regulatory standards and growing market participation.
DraftKings Enters Prediction Markets via Polymarket Partnership
DraftKings has entered the prediction market sphere by partnering with Polymarket in the U.S. Acquiring Railbird, a CFTC-regulated platform, escalates DraftKings’ entrance into regulated prediction markets.
Polymarket, well-known for its crypto presence, supports this initiative as the clearinghouse. This collaboration highlights the continuing evolution of crypto within mainstream business sectors.
ICE Invests $2B in Prediction Market Platform
The alliance between DraftKings and Polymarket is expected to enhance the credibility of prediction markets, with heightened engagement across sectors. Market participants anticipate improved regulatory compliance.
With ICE investing $2B, Polymarket's valuation surges to $15B. Such moves signify increased institutional acceptance and highlight the demand for regulated crypto markets.
"Congrats to @DraftKings on their acquisition of @RailbirdHQ. We're proud for Polymarket Clearing to be their designated clearinghouse as they enter the prediction market space." — Shayne Coplan, CEO, Polymarket
Kalshi's Rise: A Parallel to DraftKings' Venture
Kalshi's rise, similar to this venture, drew parallels in market valuation and interest. The news echoes past trends, emphasizing the appeal for prediction markets governed by strong regulations.
Expected outcomes point toward increased blockchain usage, notably Ethereum and BNB Chain applications. Previous patterns suggest potential engagement boosts in crypto transaction activities and market legitimacy.
Key Information
- •DraftKings partners with Polymarket to launch U.S.-regulated prediction market app.
- •Polymarket serves as clearinghouse for the new platform.
- •Intercontinental Exchange invests $2B, valuing Polymarket up to $15B.