Polymarket Set to Clear Trades in DraftKings’ New Push, CEO Says
Polymarket is serving as the middleman for DraftKings’ push to capitalize on demand for wagering on real-world events.
Photographer: Gabby Jones/BloombergPolymarket Chief Executive Officer Shayne Coplan said the firm is expanding its role in the fast-growing business of betting on real-world events by clearing trades under DraftKings Inc.’s new push into the prediction markets.
He said Polymarket will act as a so-called clearinghouse for DraftKings, which on Tuesday announced that it was acquiring Railbird Technologies Inc., a federally regulated exchange, as part of a move beyond online sports gambling.