DraftKings Adds NFL, NBA Player Props With Crypto.com Deal

DraftKings has teamed up with Crypto.com to bring player-specific event contracts to its predictions platform, opening the door to broader markets like politics and entertainment.

Key Takeaways

• DraftKings Predictions now offers player-specific event contracts for NFL and NBA games, a first for the platform.
• The partnership with Crypto.com | Derivatives North America enables broader access to regulated prediction markets.
• Future expansion plans include politics, culture, and entertainment, along with integration of Railbird Exchange.
• The offering is available in states without traditional sports betting, including California, Florida, Georgia, and Texas.

What Happened?

DraftKings announced a major partnership with Crypto.com, expanding its federally regulated prediction markets to include player-specific event contracts. This means users can now bet on individual NFL or NBA player performances using a yes/no format. The deal also positions DraftKings to roll out prediction markets in new categories like politics and entertainment in the near future.

DraftKings Bets Big on Player Props and New Categories

DraftKings’ partnership with Crypto.com | Derivatives North America (CDNA) marks a pivotal moment in the evolution of regulated prediction markets. Until now, the platform focused primarily on team-level or broader event outcomes. This new offering dives into the popular realm of player proposition bets, allowing fans to wager on outcomes like how many yards a quarterback might throw or how many points an NBA player might score.

CDNA is registered with the Commodity Futures Trading Commission (CFTC), which enables DraftKings Predictions to operate in a compliant environment even in states where sports betting remains illegal. The app currently serves 38 states, including major non-betting markets.

DraftKings Predictions now spans:

• NFL and NBA player-specific events.
• Traditional markets for soccer, MMA, golf, boxing, tennis, and the Olympic Games.
• Financial and commodity markets via existing CME Group connections.

The partnership also sets the stage for non-sports categories like:

• Politics
• Culture
• Entertainment

These will be enabled through Crypto.com’s support and future integration with Railbird Exchange.

Regulatory Tensions Brewing

While this expansion is innovative, it’s not without risk. The introduction of player-level contracts comes amid heightened scrutiny around prop betting. Recent scandals in professional sports, such as those involving NBA player Terry Rozier and MLB pitcher Emmanuel Clase have raised alarms among regulators and leagues.

Some major leagues like the NFL have publicly raised concerns about how prediction markets might circumvent traditional betting oversight. On the other hand, leagues such as MLS and the NHL have embraced CFTC-regulated platforms like Kalshi and Polymarket, signaling a divide in industry sentiment.

DraftKings Strengthens Its Responsible Trading Focus

Despite these challenges, DraftKings emphasizes its commitment to responsible trading. The DraftKings Predictions platform includes built-in tools and educational resources aligned with its Responsible Trading program. These tools are accessible directly in the app and on the platform’s website.

CoinLaw’s Takeaway

I think this is a bold and savvy move by DraftKings. By tapping into federally regulated event contracts, they’re smartly sidestepping restrictive sports betting laws in over a dozen states. In my experience, the appeal of player props is huge, and DraftKings is positioning itself right where the demand is. What stands out most to me is the future potential. The inclusion of political and entertainment markets could make DraftKings Predictions a much bigger beast. That said, the regulatory tension is real. If the leagues push back harder, DraftKings might face more roadblocks. But for now, they’re pushing the industry forward.

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