DraftKings Launches Yes/No Prediction Markets on NFL, NBA Players

After severing ties with the American Gaming Association over disagreement on whether prediction markets constitute gambling, and specifically whether sports event contracts encroached on regulated sports gambling markets, DraftKings is now moving further afield in the sector with the launch of event contracts on player-based outcomes.

Expanding Prediction Markets Offering with Sports-Inspired Options

Teaming up with Crypto.com’s Derivatives North America unit, DraftKings will now offer you a chance to weigh in on whether a certain player is going to pull off a specific achievement or do something in a game. 

If this sounds familiar, that is because it is. For all intents and purposes, this is a form of proposition bet in event contract form where a simple Yes/No would suffice. 

Proposition bets are among the most popular in sports, and this is why DraftKings is now exploring the opportunity to bring them to event contracts.

DraftKings, which already has its own dedicated prediction market, does not operate in the sector on an either-or basis, unlike the American Gaming Association, and the business has seen prediction markets as an important opportunity for growth and driving results.

Ina  astatement, DraftKings outlined its ambition for the newly-introduced markets, which will cover so far NBA and NFL players for the time being:

“In addition to the wider scope of sports prediction markets, Crypto.com is expected to support DraftKings Predictions’ introduction of new event contract categories, including culture, entertainment, and politics. Additionally, DraftKings Predictions will integrate Railbird Exchange in the coming months, further strengthening its offering.”

Prop-Like Markets Are Not the Only Addition 

DraftKings Predictions, which currently hosts the Yes/No proposition “non-bets,” is also taking this opportunity with Crypto.com to further expand its supported markets. 

“DraftKings Predictions adds breadth across sports prediction markets in the states where the product is available, spanning soccer, MMA, golf, boxing, tennis, and the Olympic Games, to complement the existing sports and financial markets provided by CME Group,” the company said.