Kings Project Launched a proprietary, vertically integrated foundation for its prediction markets experience, Kings project predictionsAnd integrated into the DraftKings: Sports & Casino app.
This exchange is proprietary De Cakesand integrating it into the app will enable DraftKings to innovate more quickly, the digital sports and gaming company said on Friday (June 26). press release.
“DKeX provides a vertically integrated foundation for DraftKings predictions, enhancing the content and capabilities of our prediction markets, giving us greater control over the technology that supports those offerings, and enabling us to move faster as we continue to enhance our unified application,” CEO and Co-Founder of DraftKings Jason Robbins he said in the release.
Janine Hightower-SillitoThe launch of DKeX and its integration into the company’s app “is a huge step forward in delivering the best customer experience in sports nationwide” and “creates new opportunities to further expand the offering ahead of some of the biggest moments on the sports calendar,” Senior Vice President and General Manager of Prediction Markets at DraftKings said in the release.
To build DKeX, DraftKings leveraged technology and Commodity Futures Trading Commission (CFTC), which it acquired through its acquisition of Railbird Technologies, according to the release.
When DraftKings acquired Railbird Technologies and its wholly-owned subsidiary, Railbird Exchange, in October, the company said the move would enable it to offer regulated event contracts and enter into… Prediction markets.
Entered DraftKings Prediction markets In December when DraftKings launched Predictions as a standalone app and web product. The company said at the time that it would initially allow eligible clients to trade real-world outcomes in sports and finance and would later add other markets such as entertainment and culture. It added that it plans to link Railbird Technologies and Railbird Exchange.
For the week ending Sunday (June 21), DraftKings Predictions had $3.4 billion in annual consumer volume and $11.3 billion in total annual trading volume, DraftKings said in its Friday press release.
During a May earnings call, Robbins framed “Sports predictions” as the company’s next frontier, describing the category as a major adjacent opportunity capable of reshaping how consumers engage with live sports.
Instead of treating prediction markets as a side business, DraftKings was integrating them directly into its main app and building what Robins called a nationwide “super app” for sports engagement, PYMNTS reported at the time.
