DraftKings just told CME Group and Crypto.com it doesn’t need them anymore. The sports betting company launched DKeX, its proprietary prediction markets exchange, on June 26, integrating the platform directly into its existing Sports & Casino app. DKNG stock surged 11% on the news, closing at $25.70.
Bernstein analysts flagged the move as a consolidation signal, arguing that DKeX lets DraftKings keep prediction market revenue in-house rather than sharing it with third-party exchange operators.
From middlemen to full ownership
DraftKings first entered prediction markets in December 2025, routing trades through CME Group and Crypto.com. The real play happened in October 2025, when DraftKings acquired Railbird Technologies. That deal gave the company a CFTC license to operate as a regulated prediction markets exchange.
The numbers suggest the stepping stone phase was already generating serious traction. DraftKings Predictions reached an annualized consumer volume of approximately $3.4 billion, with total trading volume hitting $11.3 billion for the week ending June 21. Those figures came while the company was still farming out its exchange operations to partners.
