DraftKings has announced a significant partnership with Crypto.com | Derivatives North America, a cryptocurrency platform that operates a CFTC-regulated derivatives exchange. This collaboration aims to enhance DraftKings Predictions by introducing a new range of federally regulated prediction market contracts, specifically targeting player-specific sports events in the NFL and NBA.
With this initiative, DraftKings is set to roll out player-based offerings through its platform, marking a notable first for the company. This move comes as part of DraftKings’ broader strategy to build upon the traction gained in prediction markets while tapping into the regulatory framework of the CFTC.
Jeanine Hightower-Sellitto, Senior Vice President and General Manager of DraftKings Predictions, expressed enthusiasm regarding the partnership. She emphasized the company’s commitment to using its technological and sporting expertise to improve customer experiences in prediction markets. Hightower-Sellitto noted that this collaboration significantly enhances customer access to a variety of sports prediction markets while fostering a more engaging and comprehensive platform experience.
The scope of DraftKings Predictions is set to expand beyond just NFL and NBA, as the platform will also feature prediction markets for an array of sports, including soccer, MMA, golf, boxing, tennis, and the Olympic Games, available in states where the service operates. This expansion will complement existing offerings in sports and financial markets provided in partnership with CME Group.
Additionally, Crypto.com is poised to facilitate the expansion of DraftKings Predictions even further by introducing new event contract categories that encompass culture, entertainment, and political events. DraftKings has indicated plans to integrate Railbird Exchange into its platform in the near future, further diversifying its offerings.
Travis McGhee, Global Head of Predictions at Crypto.com, highlighted the innovative nature of this partnership, noting its significance as they aim to create a compelling and engaging experience for customers nationwide. He remarked that collaborating with DraftKings, a recognized name in sports, marks a pivotal step toward wide-reaching access to prediction markets covering a variety of topics, including cryptocurrencies, finance, and entertainment.
Currently, DraftKings Predictions enables eligible customers to take part in federally regulated event contracts in significant states such as California, Florida, Georgia, and Texas.
