
DraftKings (DKNG) is reportedly in talks to acquire Railbird, a federally regulated prediction market platform. This development signals the sports betting giant’s expansion into a rapidly growing industry. Prediction markets have been gaining traction following the recent election cycle.
Railbird, founded in 2021 by former Point72 analysts Miles Saffran and Edward Tian, received CFTC approval as a designated contract market in June, making it one of the few regulated prediction markets in the United States. The platform allows users to trade contracts on real-world events, including economic indicators, policy decisions, weather patterns, and sports outcomes.