DraftKings acquires Railbird Technologies, expands into prediction markets

(PRESS RELEASE) -- DraftKings today announced the acquisition of Railbird Technologies Inc. and its wholly owned subsidiary, Railbird Exchange, 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.