DraftKings has launched DKeX, its proprietary prediction markets exchange, within the DraftKings: Sports & Casino app, advancing its DraftKings Predictions product and giving the company more direct control over technology, content depth, operating economics, and the customer experience.
The exchange uses technology and a CFTC license acquired through DraftKings’ purchase of Railbird Technologies. DraftKings said DKeX will support faster product development as it expands prediction markets alongside its sportsbook.
DraftKings Predictions recorded approximately $3.4 billion in annualized consumer volume and approximately $11.3 billion in annualized total trading volume for the week ended June 21.
The company expects growth to continue in July, supported by platform updates, new event contracts, combinations, and interest linked to the World Cup. Since the product launched in mid-May, more than 30% of customers have used combinations, which allow multiple individual contracts to be bundled into one position.
“DraftKings is at its best when building innovative platforms that bring together technology, customer focus, and world-class execution to shape the future of sports engagement,” said Jason Robins, Chief Executive Officer and Co-Founder of DraftKings.
“The momentum we’ve seen on DraftKings Predictions in recent months reflects the significant progress we’ve made in delivering a more seamless and connected experience for sports fans.”
“DKeX provides a vertically integrated foundation for DraftKings Predictions, strengthening our prediction markets content and capabilities, giving us greater control over the technology that powers those offerings, and enabling us to move faster as we continue enhancing our unified app.”
The DraftKings Sports experience combines sports betting and prediction market trading in one app, with sportsbook offerings and/or sports event contracts available depending on customer location. It is available nationally, including sports event contracts in 18 states.
Recent updates include Predictions Sports Combos, expanded pre-game and in-play statistics, dedicated hubs for major events such as the World Cup, and an always-on Live tab for real-time sports events. DraftKings Predictions has also added MLB player and futures contracts, No Runs First Inning baseball, broader NBA and NHL selections, and international sports.
“The launch of DKeX and its integration into our unified app is a major step forward in delivering a best-in-class customer experience in sports nationwide,” said Jeanine Hightower-Sellitto, DraftKings Senior Vice President and General Manager of Prediction Markets.
“The pace of development across Predictions has been substantial, from expanding our event contract offerings to introducing key features like combos, which customers have quickly embraced. DKeX is the latest milestone in that progression and creates new opportunities to further expand the offering ahead of some of the biggest moments on the sports calendar.”
Customers can access prediction markets through the DraftKings: Sports & Casino app on iOS and Android.