DraftKings Ups the Prediction Market Ante With Railbird Deal

DraftKings (NASDAQ: DKNG) announced that it is acquiring Railbird, a prediction markets platform. This deal is part of the sportsbook operator's efforts to launch its own event contracts exchange.Shares in the company have moved higher on the news. As you may recall, the stock previously took a big dive, on rising concerns about prediction platforms like Kalshi and Polymarket threatening its business model.However, two questions now linger. First, is DraftKings' prediction gambit going to prove profitable? Second, is DraftKings pursuing these efforts because it honestly believes prediction markets are the future, or is management simply trying to calm the market's "disruption" fears related to this stock?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool