- DraftKings is in advanced talks to acquire CFTC-licensed Railbird Exchange, signaling a move into regulated prediction markets.
- Flutter Entertainment has acquired the remaining 5% of FanDuel from Boyd Gaming in a $1.75 billion deal, giving it full ownership of the sportsbook.
BOSTON – Two of America’s largest operators are widening their scope in the US sports betting industry. Both DraftKings and FanDuel are further cementing their dominance and evolving business strategies.
DraftKings Eyes Prediction Markets with Railbird Talks
DraftKings is reportedly in advanced talks to acquire Railbird Exchange, a new CFTC-licensed prediction market platform. According to Front Office Sports, the move would give DraftKings an immediate presence in the regulated prediction market space, a vertical it previously withdrew from when it pulled its own application.
The renewed interest in prediction markets reflects a broader shift in thinking among legal online sportsbooks. As companies like Kalshi fight regulatory challenges while gaining traction with bettors, DraftKings appears poised to pivot from observation to acquisition.
FanDuel Now Fully Controlled by Flutter After $1.75B Buyout
Meanwhile, Flutter Entertainment has acquired the remaining 5% of FanDuel from Boyd Gaming in a $1.75 billion deal, granting Flutter 100% ownership. The move simplifies FanDuel’s ownership structure and enhances Flutter’s flexibility ahead of a potential U.S. listing or deeper expansion.
The deal also comes with an extension to FanDuel’s market access agreements in states with sports betting like Indiana, Iowa, and Louisiana.
Analysts see the move as Flutter “cleaning up shop” to present a clearer story to investors amid ongoing U.S. growth. Boyd Gaming CEO Keith Smith confirmed the legal sports betting deal “puts the company in a significantly stronger financial position,” stoking speculation about a potential Boyd-Penn merger.
A Sharpened Focus on Gambling Infrastructure
The moves by both companies signal more than just strategic expansion, but a shift in mindset toward broader forms of gambling. DraftKings isn’t just betting on sports; it’s eyeing markets tied to real-world events, politics, and economic indicators. FanDuel, meanwhile, is leveraging consolidation to maintain market dominance and financial leverage.
As rising taxes and shifting state regulations have made headlines, they’re reimagining the boundaries of their business models. For example, both companies recently adjusted their betting models in response to a new per-wager tax in Illinois.
Next Read: Illinois Hikes Sports Betting Tax, National Ripple Effects
