DraftKings announced the acquisition of the trading platform Railbird Technologies, positioning itself in the prediction market and event contract trading space.

BlockBeats News, October 22nd, according to Bloomberg, DraftKings announced the acquisition of the trading platform Railbird Technologies regulated by the U.S. Commodity Futures Trading Commission (CFTC) to expand into the prediction market and event contract trading, with the terms of the deal undisclosed.

Following the announcement, DraftKings' stock price surged as much as 8.3% in after-hours trading. DraftKings plans to launch DraftKings Predictions on its mobile app, where users can trade contracts on yes-or-no outcomes related to finance, culture, and entertainment.