DraftKings Enters Prediction Markets Rush With New Trading App

DraftKings Inc. is releasing a new app on Friday that will allow customers to trade contracts on sports and financial events through prediction markets.

The app, DraftKings Predictions, will supplement the company’s current sports betting products, and underscores the rapid expansion of prediction markets into the legal gray zone between finance and gambling. DraftKings said it plans to later expand from sports and financial contracts into other categories including culture, entertainment, and crypto.