DraftKings acquires the CFTC-licensed prediction market exchange Railbird

ChainCatcher news, according to Bloomberg, DraftKings announced the acquisition of the exchange Railbird Technologies, which is regulated by the Commodity Futures Trading Commission (CFTC), to lay out a strategy for prediction markets and event contract trading. The terms of the deal were not disclosed.

After the news was released, DraftKings' stock price rose by as much as 8.3% in after-hours trading.