DraftKings Broker Application Approved, Moving Towards Prediction Market Launch
DraftKings has gained approval from the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) to function as an introducing broker (IB), putting it one step closer to creating its own prediction market platform. The NFA website revealed that DraftKings’ IB application, filed under the name Gus III LLC, had been approved. In […]
DraftKings says prediction markets will pressure more states to legalize sports betting.
In an earnings call on Friday morning, Jason Robins, CEO of DraftKings, stated that prediction markets can be a “powerful lever” to persuade governments to legalize online sports betting. Despite the fact that traditional internet sports betting is still prohibited in 19 states, including Texas and California, the remarks contribute to the expanding discussion surrounding […]
Prediction markets aren’t drawing clients away from sports betting, according to the CEO of DraftKings.
Jason Robins, CEO of DraftKings, told Jim Cramer of CNBC that prediction markets aren’t discouraging people from betting on sports, emphasizing that the two offer distinct services.“You’ll see what I mean—it’s night and day—just go and spend five minutes looking at the products,” Robins remarked. “I wouldn’t consider the quantity of markets or even the […]
