DraftKings launches DKeX, brings prediction trading in-house

DraftKings launched DKeX on June 26, shifting its prediction-market trading off external venues and onto a Commodity Futures Trading Commission-regulated exchange it developed after acquiring Railbird Technologies in October 2025. The exchange is built into the DraftKings: Sports & Casino app and replaces third-party clearing infrastructure used by the Predictions platform.

Until DKeX went live, DraftKings routed prediction contracts through the CME Group and Crypto.com, which added an external exchange fee while the venue kept a share of trading revenue. By matching orders on its own order book, DraftKings now retains those trading fees directly.

For the week ended June 21, a period boosted by the FIFA World Cup, DraftKings reported roughly $3.4 billion in annualized consumer volume and about $11.3 billion in annualized total trading volume for its Predictions product. Those annualized figures equal about $216 million in actual trading for the week, or roughly $31 million per day. Some specialist exchanges routinely clear more than $1 billion a day.

DKeX lists sports-event contracts in 18 states under CFTC oversight, allowing DraftKings to offer contracts in jurisdictions where state-level sportsbook operations are restricted. The federal-versus-state regulatory boundary over prediction markets is contested: the CFTC has brought cases to assert its jurisdiction over certain contracts, while some state officials and lawmakers have sought tighter limits.

Several consumer platforms have moved to own exchange infrastructure. Robinhood partnered with Susquehanna to create Rothera, Coinbase acquired The Clearing Company, and Flutter Group established a dual-broker structure for its prediction products.

In the company announcement, CEO Jason Robins described DKeX as “a vertically integrated foundation for DraftKings Predictions” and wrote it will enable the company to “move faster” on enhancements to the unified app.

DraftKings has not framed the launch as a formal end to relationships with prior clearing partners. The company stated that folding DKeX into its main app reduces revenue shared with outside venues and gives DraftKings direct control over execution, pricing and product rollout.