In a significant move to expand its offerings in the prediction market space, sports betting and gaming company DraftKings Inc. (NASDAQ: DKNG) has entered a partnership with Crypto.com’s CFTC-regulated derivatives exchange. This collaboration is set to enhance the features of DraftKings’ newly launched DraftKings Predictions app, marking an important step in broadening customer engagement and market offerings within the sports sector.
The partnership introduces player-specific sports event contracts for major leagues such as the NFL and NBA, signaling a major enhancement in the services offered on DraftKings Predictions. According to Jeanine Hightower-Sellitto, Senior Vice President and General Manager of DraftKings Predictions, the integration of Crypto.com will allow the platform to leverage both companies’ expertise in sports and technology. Hightower-Sellitto emphasized that this venture significantly increases customer access to various prediction markets, enhancing the overall user experience as the product evolves.
As part of the expansion, DraftKings Predictions will now cover a wider array of sports, including soccer, MMA, golf, boxing, tennis, and even the Olympic Games. This enhancement will sit alongside the sports and financial markets already provided through CME Group. Furthermore, Crypto.com is poised to support future introductions of new categories for event contracts, extending into areas such as culture, entertainment, and politics.
The collaboration is not limited to just sports, as it aims to provide a broader range of prediction markets across different sectors. Travis McGhee, Global Head of Predictions at Crypto.com, highlighted the importance of this partnership, noting its potential to widen access to prediction markets not only in sports, but also in cryptocurrencies, financial markets, and various other domains.
DraftKings Predictions allows users in several states, including California, Florida, Georgia, and Texas, to engage in federally regulated event contracts. Complementing this offering is DraftKings’ Responsible Trading program, which includes tools and resources designed to promote responsible gaming practices.
For users interested in exploring DraftKings Predictions, the app is currently available for download on both iOS and Android platforms. As DraftKings continues to solidify its position in the sports gaming landscape, this partnership with Crypto.com sets the stage for further innovation within the prediction markets.
