DraftKings has formed a partnership with Crypto.com | Derivatives North America, a cryptocurrency platform managing a CFTC-regulated derivatives exchange, to introduce more federally compliant prediction market contracts via DraftKings Predictions.
As part of this collaboration, DraftKings Predictions will feature player-specific sports event contracts for both the NFL and NBA. These contracts represent the first player-centric offerings on the platform and are accessible under a CFTC-regulated exchange framework.
“We’re progressing the momentum of DraftKings Predictions by utilizing our expertise in sports and technology and incorporating additional CFTC-regulated exchanges such as Crypto.com,” stated Jeanine Hightower-Sellitto, Senior Vice President and General Manager of DraftKings Predictions.
“This partnership significantly enhances customer access to trade on sports and provides a wider array of prediction markets. It also underscores our commitment to offering a richer and more engaging experience as the product continues to grow.”
DraftKings Predictions is set to provide prediction markets for soccer, MMA, golf, boxing, tennis, and the Olympics in states where the product is permitted. These offerings enhance the variety of sports and financial markets available through CME Group.
Crypto.com will assist in launching additional event contract categories on DraftKings Predictions, which will include culture, entertainment, and political events. DraftKings has announced plans to integrate Railbird Exchange into the platform in the upcoming months.
“Crypto.com continues to pave the way with innovative partnerships,” remarked Travis McGhee, Global Head of Predictions at Crypto.com. “We are excited to collaborate with DraftKings and look forward to creating an engaging experience for customers nationwide.”
“Partnering with DraftKings, a recognized name in sports, is a key milestone for us as it not only expands access to prediction markets in sports but also widens our reach into prediction markets for cryptocurrencies, financials, companies, politics, culture, entertainment, and more.”
DraftKings Predictions allows eligible customers to engage in federally regulated event contracts, including sports event contracts, in states like California, Florida, Georgia, and Texas.
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