DraftKings Launches CFTC-Regulated Prediction Market App for Real-World Events

Sports betting giant DraftKings has officially entered the prediction market arena with the launch of a new, CFTC-approved application. This innovative platform allows users to trade on the outcomes of real-world events beyond sports, such as elections, awards shows, and financial markets. The app, which operates under regulated "event contracts," marks a significant expansion for DraftKings into a new asset class. This move leverages the company's existing technology and user base to tap into the growing demand for speculative trading on non-sporting events, positioning it as a pioneer in a newly formalized sector of the prediction economy.