DraftKings announced that it has acquired Railbird Technologies Inc. and its wholly owned subsidiary, Railbird Exchange, a federally licensed exchange designated by the Commodity Futures Trading Commission (CFTC). The acquisition strengthens DraftKings’ strategic position in the emerging prediction markets space and expands its long-term growth opportunities through regulated event contracts.
Railbird’s technology, licensing, and experienced team will serve as the foundation for DraftKings’ future product innovation and operational advantage in prediction markets. The acquisition enables DraftKings to leverage its established brand, scale, and expertise in mobile-first engagement to deliver differentiated, regulated trading experiences around real-world outcomes.
DraftKings also announced plans to launch DraftKings Predictions, a new mobile application designed to let users trade event contracts on outcomes across finance, culture, and entertainment. The forthcoming app will connect to multiple exchanges, allowing DraftKings to provide one of the broadest selections of prediction markets available to U.S. customers. The company said the offering may expand into new categories over time, deepening engagement and broadening its user base.
The acquisition of Railbird reflects DraftKings’ continued diversification beyond fantasy sports and sports betting, positioning it to capture new forms of interactive entertainment and market engagement as regulated prediction markets evolve.
Support: Sullivan & Cromwell served as legal counsel to DraftKings. Moelis & Company LLC acted as financial advisor to Railbird, with Proskauer Rose and Kirkland & Ellis serving as its legal counsel.
KEY QUOTES
“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.”
Jason Robins, Chief Executive Officer and Co-Founder, DraftKings
“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.”
Miles Saffran, Chief Executive Officer and Co-Founder, Railbird
