DraftKings acquires CFTC-approved prediction market exchange Railbird

ChainCatcher news, according to Bloomberg, DraftKings announced the acquisition of Railbird Technologies, an exchange regulated by the U.S. Commodity Futures Trading Commission (CFTC), to expand into prediction markets and event contract trading. The terms of the deal were not disclosed.

After the announcement, DraftKings' stock price rose as much as 8.3% in after-hours trading.