DraftKings Acquires Railbird to Advance Future Growth in Prediction Markets
BOSTON, Oct. 21, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (NASDAQ:DKNG) ("DraftKings" or the "Company") today announced the acquisition of Railbird Technologies Inc. and its wholly owned subsidiary, Railbird Exchange, LLC (together with Railbird Technologies Inc., "Railbird"), a federally licensed exchange designated by the Commodity Futures Trading Commission. The acquisition supports DraftKings' broader strategy to enter prediction markets, expanding its addressable opportunity through regulated event contracts. Railbird's team and proprietary technology establish a strategic foundation for the Company's future growth in this space, enabling advantaged economics and long-term product differentiation.
"We are excited about the additional opportunity that prediction markets could represent for our business," said Jason Robins, CEO and Co-Founder of DraftKings. "We believe that Railbird's team and platform—combined with DraftKings' scale, trusted brand, and proven expertise in mobile-first products—positions us to win in this incremental space."
The Company also confirmed plans to launch DraftKings Predictions, a forthcoming mobile application that will allow customers to trade regulated event contracts on real-world outcomes across finance, culture, and entertainment. The product will have the flexibility to connect to multiple exchanges, enabling DraftKings to offer one of the broadest suites of markets to its customers. Its offering may expand into additional categories over time, deepening customer engagement and extending DraftKings' addressable audience.
"This is a transformational moment for our company, and we are thrilled to be a part of the future of DraftKings," said Miles Saffran, CEO and Co-Founder of Railbird. "DraftKings' scale and leadership in the industry creates meaningful opportunities for our team and platform."
DraftKings Predictions is expected to debut as a mobile application in the coming months.
Sullivan & Cromwell LLP served as legal counsel to DraftKings. Moelis & Company LLC served as financial advisor to Railbird, and Proskauer Rose LLP and Kirkland & Ellis LLP served as legal counsel to Railbird.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. The company is headquartered in Boston and was launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman. DraftKings' mission is to make life more exciting by responsibly creating the world's favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C. and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states and in Ontario, Canada, under its Golden Nugget Online Gaming brand. DraftKings also owns Jackpocket, the leading digital lottery courier app in the United States. DraftKings' daily fantasy sports product is available in 44 states, the District of Columbia and certain Canadian provinces. DraftKings is both an official sports betting and daily fantasy partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network a multi-platform content ecosystem. DraftKings is committed to being a responsible steward of this new era in real-money gaming by developing and promoting educational information and tools to help all players enjoy our games responsibly.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about the Company and its industry that involve substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release, including statements regarding guidance, DraftKings' future results of operations or financial condition, strategic plans and focus, user growth and engagement, product initiatives, and the objectives and expectations of management for future operations (including launches in new jurisdictions and the expected timing thereof), are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "confident," "contemplate," "continue," "could," "estimate," "expect," "forecast," "going to," "intend," "may," "plan," "poised," "potential," "predict," "project," "propose," "should," "target," "will," or "would" or the negative of these words or other similar terms or expressions, or by statements of vision, strategy or outlook. DraftKings cautions you that the foregoing may not include all of the forward-looking statements made in this press release.
You should not rely on forward-looking statements as predictions of future events. DraftKings has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends, including the current macroeconomic environment, that it believes may affect its and Railbird's business, financial condition, results of operations, and prospects. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings' and Railbird's control and that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, but are not limited to, the outcome of any legal proceedings that may be instituted against DraftKings and Railbird following the acquisition; the risk that the acquisition disrupts current plans or operations; the ability to recognize the anticipated benefits of the acquisition, which may be affected by, among other things, competition and the ability of DraftKings and Railbird to grow and manage growth and retain its key employees; costs related to the acquisition; DraftKings and Railbird's abilities to execute their respective business plans and meet their respective projections; potential litigation involving DraftKings or Railbird; changes in applicable laws or regulations, particularly with respect to online gaming, prediction markets or similar businesses; general economic and market conditions impacting demand for DraftKings' and Railbird's products and services; economic and market conditions in the media, entertainment, gaming, prediction markets and software industries in the jurisdictions in which DraftKings and Railbird operate; global conditions and economic factors, as well as the potential impact of general economic conditions, including inflation, rising interest rates and instability in the banking system, on DraftKings' and Railbird's liquidity, operations and personnel as well as the risks, uncertainties, and other factors described in "Risk Factors" in DraftKings' filings with the Securities and Exchange Commission (the "SEC"), which are available on the SEC's website at www.sec.gov. Additional information will be made available in other filings that DraftKings makes from time to time with the SEC. The forward-looking statements contained herein are based on management's current expectations and beliefs and speak only as of the date hereof, and neither DraftKings nor Railbird makes any commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations, except as required by law.
