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DraftKings expands sports prediction market offerings via Railbird

ReadWrite·Suswati Basu·4 days ago
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DraftKings is moving further into federally supervised prediction markets after Railbird Exchange submitted its first group of event contract certifications to the Commodity Futures Trading Commission. The filings appeared in the CFTC’s Designated Contract Market products database under the name “REX.” They include six binary option templates connected to sports results and player performances: GAMEWIN, GAMESPREAD, GAMEPROPERTY, ENTITYSTAT, ENTITYOUTPERFORM, and ENTITYACHIEVEMENT. Regulators classified the submissions under “Event” and “Binary Option” products after the certifications were filed May 22. @DraftKings ' DCM, Railbird Exchange, LLC, d/b/a DKeX, just filed its first product certifications with the CFTC. 6 binary option templates in the "Event" category — GAMEWIN, GAMESPREAD, GAMEPROPERTY, ENTITYSTAT, ENTITYOUTPERFORM, ENTITYACHIEVEMENT.…

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