DraftKings taps Polymarket to clear trades in prediction markets play
Polymarket will act as a clearinghouse for DraftKings’ upcoming prediction market platform, following its acquisition of Railbird earlier this week.
American sports betting platform DraftKings is tapping Polymarket as the clearinghouse for its new prediction market, an industry that clocks over $4 billion in monthly trading volume.
“Congrats to DraftKings on their acquisition of Railbird. We’re proud for Polymarket Clearing to be their designated clearinghouse as they enter the prediction market space,” Polymarket CEO Shayne Coplan said in an X post on Wednesday.
Railbird is a Commodity Futures Trading Commission-regulated predictions market platform, which DraftKings acquired for an undisclosed amount on Tuesday.