DraftKings has unveiled DKeX, its unique prediction markets exchange, integrated into the DraftKings: Sports & Casino app. This move enhances the DraftKings Predictions offering and provides the company with enhanced oversight of technology, content, operational economics, and overall user engagement.
The exchange leverages technology and a CFTC license obtained through DraftKings’ acquisition of Railbird Technologies. The company stated that DKeX will facilitate quicker product evolution as it broadens prediction markets along with its sportsbook.
For the week ending June 21, DraftKings Predictions achieved around $3.4 billion in annualized consumer volume and approximately $11.3 billion in annualized total trading volume.
The company anticipates continued growth in July, bolstered by platform enhancements, new event contracts, combos, and heightened interest due to the World Cup. Since its launch in mid-May, more than 30% of users have engaged with combos, enabling the bundling of multiple individual contracts into one.
“DraftKings excels at creating pioneering platforms that merge technology, customer-centricity, and top-tier execution to redefine sports interaction,” remarked Jason Robins, CEO and Co-Founder of DraftKings.
“The recent momentum in DraftKings Predictions highlights the substantial strides we’ve made in providing a smoother and more integrated experience for sports enthusiasts.”
“DKeX offers a vertically integrated foundation for DraftKings Predictions, enhancing our prediction markets’ content and capabilities, giving us increased control over the technology that underpins our offerings, and enabling us to innovate more rapidly as we continue to refine our unified app.”
The DraftKings Sports ecosystem combines sports betting and prediction market trading within a single application, offering sportsbook features and/or sports event contracts based on user location. It is accessible nationwide, including sports event contracts in 18 states.
Latest updates include Predictions Sports Combos, expanded pre-game and in-play statistics, specialized hubs for major events like the World Cup, and a continuously active Live tab for real-time sports events. DraftKings Predictions has also incorporated MLB player and futures contracts, No Runs First Inning baseball options, extended NBA and NHL selections, along with international sports.
“The introduction of DKeX and its amalgamation with our unified app is a significant advancement in delivering an exceptional customer experience in sports nationwide,” stated Jeanine Hightower-Sellitto, DraftKings Senior Vice President and General Manager of Prediction Markets.
“The rapid development across Predictions has been impressive, from broadening our event contract offerings to rolling out essential features like combos, which customers have quickly adopted. DKeX represents the latest milestone in this journey and opens up new avenues to expand our offerings ahead of key moments on the sports calendar.”
Users can access prediction markets via the DraftKings: Sports & Casino app on both iOS and Android.