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DraftKings has published will use the clearing services of Polymarket to support a new product focused on prediction.
Polymarket will manage background processing through your clearinghouse. This includes verifying each trade, keeping funds safe and ensuring payouts are settled accurately once the results are known.
This process reduces the chances of disputes between participants and helps build trust in the system.
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An upcoming product called “DraftKings Predictions”, it is expected to be launched as a mobile application.
According to DraftKings, it will be designed to connect with several marketswhich will give users a range of topics to choose from, including news and politics, finance and entertainment.
The move also marks DraftKings’ first return to blockchain-related efforts since shutting down its non-fungible token (NFT) platform in July 2024. For Polymarket, it further strengthens its position in the prediction market industry.
October 21 DraftKings completed purchase of Railbirda US regulated market prediction platform overseen by the Commodity Futures Trading Commission (CFTC). This acquisition provides DraftKings with a legal basis to operate in the US prediction market.
Meanwhile, Polymarket became able to operate a US-based clearing system after it bought QCEX, a derivatives exchange, for $112 million in June.
Sam Altman’s identity-centric platform, World, has added access to prediction markets through a partnership with Polymarket. What did the company say? Read the full story.
