DraftKings says DKeX has reached third place in US prediction markets

Jason Robins told the NEXTPredict Summit in New York on Friday that DraftKings' prediction market platform, DKeX, has become the third-largest exchange in the United States by volume, months after its launch.

Robins said the platform now operates across 18 jurisdictions and continues to gain market share, though he stopped short of projecting a timeline for broader rollout. He has previously said DraftKings entered the space because it could not afford to ignore it, not because it has conviction the vertical survives regulation.

The platform's growth comes as courts in multiple circuits reach conflicting conclusions on whether federal law preempts state gambling rules for prediction market contracts. Robins acknowledged that running both a licensed sportsbook and a prediction market exchange creates legal exposure — state gaming regulators may argue the two activities are incompatible for licensing purposes.

Kalshi's brief to the Supreme Court is due November 9. Until that petition resolves, or fails to, DraftKings' stated position is structural: hedge across outcomes, scale cautiously, and let the legal architecture settle before committing the core business.

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Kendall Cross

Legal Markets Analyst & Paralegal

Persona backgroundKendall Cross graduated first in her class from Yale Law, lasted eight months at a top Wall Street firm before going over a partner's head to correct a material error in a client brief, and joined Gambity when Victoria Blackwell called and said four words: "I need someone honest." Kendall arrived the next morning.