The US gambling industry has been awash with talk about predictions platforms over the past six months. Many state regulators have banned sites like Kalshi and Polymarket, claiming that they’re offering unlicensed gambling to people.
it operates as a regulated financial exchange under the purview of the CFTC
Kalshi disputes this and has filed counter lawsuits, maintaining that the company is fully compliant as it operates as a regulated financial exchange under the purview of the CFTC (Commodity Futures Trading Commission).
With sportsbook operators concerned about the growing popularity of predictions markets, they’re now looking to get in on the act themselves. Front Office Sports reported the exclusive that DraftKings is in talks to acquire the soon-to-launch Railbird Exchange, a predictions markets site that recently received a CFTC license.
A spokesperson for the Boston-based company didn’t confirm or deny the rumours when contacted.
DraftKings has attempted to venture into the predictions space before. It sought a federal license to run a predictions market, before withdrawing this request in April. Prediction platforms licensed federally operate in states that don’t have legal sports betting, including sunstantial potential markets like Texas and California.
Rival operator FanDuel reportedly held discussions with Kalshi over a possible partnership.
