DraftKings and Polymarket Launch Regulated Prediction Market

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What to Know:
  • DraftKings partners with Polymarket to launch U.S.-regulated prediction market app.
  • Polymarket serves as clearinghouse for the new platform.
  • Intercontinental Exchange invests $2B, valuing Polymarket up to $15B.

DraftKings has partnered with Polymarket to launch a regulated prediction market in the U.S., leveraging Polymarket as the clearinghouse for its new app, “DraftKings Predictions.”

This partnership signals a significant step toward mainstream institutional acceptance of crypto-based prediction markets, potentially influencing Ethereum and Binance Chain ecosystems with new regulatory standards and growing market participation.

DraftKings partners with Polymarket to launch a regulated prediction market platform in the U.S., marking a significant advancement in crypto-driven sports prediction services.

This partnership underscores the growing merger of traditional and crypto markets, bringing institutional credibility and potentially increasing blockchain transaction volumes.

DraftKings Enters Prediction Markets via Polymarket Partnership

DraftKings has entered the prediction market sphere by partnering with Polymarket in the U.S. Acquiring Railbird, a CFTC-regulated platform, escalates DraftKings’ entrance into regulated prediction markets.

Polymarket, well-known for its crypto presence, supports this initiative as the clearinghouse. This collaboration highlights the continuing evolution of crypto within mainstream business sectors.

ICE Invests $2B in Prediction Market Platform

The alliance between DraftKings and Polymarket is expected to enhance the credibility of prediction markets, with heightened engagement across sectors. Market participants anticipate improved regulatory compliance.

With ICE investing $2B, Polymarket’s valuation surges to $15B. Such moves signify increased institutional acceptance and highlight the demand for regulated crypto markets.

“Congrats to @DraftKings on their acquisition of @RailbirdHQ. We’re proud for Polymarket Clearing to be their designated clearinghouse as they enter the prediction market space.” — Shayne Coplan, CEO, Polymarket

Kalshi’s Rise: A Parallel to DraftKings’ Venture

Kalshi’s rise, similar to this venture, drew parallels in market valuation and interest. The news echoes past trends, emphasizing the appeal for prediction markets governed by strong regulations.

Expected outcomes point toward increased blockchain usage, notably Ethereum and BNB Chain applications. Previous patterns suggest potential engagement boosts in crypto transaction activities and market legitimacy.

Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.
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Thane Morrison is a diligent crypto news author and keen blockchain and digital finance enthusiast. He writes insightfully correct engaging content on Bitcoin, altcoins, DeFi, and NFTs to help readers understand how this relentless, changing world works. Simplification and empowerment are what he really stands for and enables readers to keep their heads in the game when making vital decisions in such a demanding space.

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