By Katherine Hamilton
DraftKings is working with Crypto.com to expand its prediction markets offerings.
The new partnership will allow for player-specific event trading on NFL and NBA games via DraftKings' new prediction markets platform, the sports betting company said Friday.
DraftKings announced its new platform DraftKings Predictions in December as the race to keep up with prediction markets intensified.
As private prediction-markets platforms such as Kalshi and Polymarket have gained more popularity, DraftKings investors have grown more concerned about market share loss and its stock has suffered.
DraftKings Predictions allows users to wager money on events, including sports, in states such as California and Texas, where traditional sports betting is illegal.
Earlier this week, Crypto.com launched a standalone prediction market platform of its own. The cryptocurrency exchange first rolled out sports event trading in 2024 and has since reported that weekly activity was surging.
Crypto.com is expected to support DraftKings Predictions' introduction of new event contract categories, including culture, entertainment and politics, DraftKings said Friday.
The company said in October it would work with Railbird Exchange for the predictions market platform, and it said Friday it still plans to integrate Railbird in the coming months.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
02-06-26 1644ET
