On Tuesday evening, DraftKings announced the acquisition of Railbird Technologies Inc. and its wholly owned subsidiary, Railbird Exchange, LLC (together with Railbird Technologies Inc., “Railbird”). Alongside this, DraftKings also announced its its plans to launch DraftKings Predictions, a mobile application that’ll allow users to trade regulated event contracts on subjects like entertainment, finance, culture and more. While no official launch date was given, DraftKings announced that will debut in the next couple of months. Read the full press release from DraftKings below:
DraftKings Announces Acquisition of Railbird
BOSTON, Oct. 21, 2025 (GLOBE NEWSWIRE) — DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced the acquisition of Railbird Technologies Inc. and its wholly owned subsidiary, Railbird Exchange, LLC (together with Railbird Technologies Inc., “Railbird”), a federally licensed exchange designated by the Commodity Futures Trading Commission. The acquisition supports DraftKings’ broader strategy to enter prediction markets, expanding its addressable opportunity through regulated event contracts. Railbird’s team and proprietary technology establish a strategic foundation for the Company’s future growth in this space, enabling advantaged economics and long-term product differentiation.
“We are excited about the additional opportunity that prediction markets could represent for our business,” said Jason Robins, CEO and Co-Founder of DraftKings. “We believe that Railbird’s team and platform—combined with DraftKings’ scale, trusted brand, and proven expertise in mobile-first products—positions us to win in this incremental space.”
The Company also confirmed plans to launch DraftKings Predictions, a forthcoming mobile application that will allow customers to trade regulated event contracts on real-world outcomes across finance, culture, and entertainment. The product will have the flexibility to connect to multiple exchanges, enabling DraftKings to offer one of the broadest suites of markets to its customers. Its offering may expand into additional categories over time, deepening customer engagement and extending DraftKings’ addressable audience.
“This is a transformational moment for our company, and we are thrilled to be a part of the future of DraftKings,” said Miles Saffran, CEO and Co-Founder of Railbird. “DraftKings’ scale and leadership in the industry creates meaningful opportunities for our team and platform.”
DraftKings Predictions is expected to debut as a mobile application in the coming months.
Sullivan & Cromwell LLP served as legal counsel to DraftKings. Moelis & Company LLC served as financial advisor to Railbird, and Proskauer Rose LLP and Kirkland & Ellis LLP served as legal counsel to Railbird.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. The company is headquartered in Boston and was launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman. DraftKings’ mission is to make life more exciting by responsibly creating the world’s favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C. and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states and in Ontario, Canada, under its Golden Nugget Online Gaming brand. DraftKings also owns Jackpocket, the leading digital lottery courier app in the United States. DraftKings’ daily fantasy sports product is available in 44 states, the District of Columbia and certain Canadian provinces. DraftKings is both an official sports betting and daily fantasy partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network a multi-platform content ecosystem. DraftKings is committed to being a responsible steward of this new era in real-money gaming by developing and promoting educational information and tools to help all players enjoy our games responsibly.
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