DraftKings has launched a marketing campaign for its prediction market aimed specifically at the four largest states where its sportsbook is unavailable.
DraftKings on Monday started specifically marketing its prediction market product in California, Georgia, and Texas, where sportsbooks are not legal, alongside Florida, where the Seminole Tribe operates a sports betting monopoly, according to Aldrin Research. The ads describe the product as “now live in” each state.
The ads also mention a “spend $5, get $200 in bonuses” offer that is similar to a promotion that DraftKings offers for its sportsbook.
DraftKings Predictions has been live with sports contracts in all four states since December of last year, when the platform launched. The business offers sports event contracts in most states where DraftKings’ sportsbook is not available, and some non-sports event contracts in most states where the sportsbook is an option.
DraftKings Predictions volume
DraftKings Predictions acts as a futures commission merchant that can allow customers to buy contracts from different exchanges. It generally routes its users to Crypto.com for most sports contracts, CME for some non-sports contracts, and its in-house exchange DKeX for some sports contracts.
In July, annualized total volume on DraftKings Predictions — across all exchanges — was $11 billion, suggesting volume within the month itself was just under $1 billion, or about $30 million per day.
Volume on DKeX itself — which launched in June — is still low, with DraftKings still choosing to route most of its sports customers to Crypto.com for now. The exchange processed only $525,000 in volume Monday, likely under 5% of DraftKings Predictions’ total volume and less than 0.05% of Kalshi’s volume for the day. DKeX may be planning to route more of its customers to the in-house exchange once football season begins. Parlays may be coming to DKeX in time for football season, after the exchange self-certified them earlier this month.
