Polymarket to provide clearing services for DraftKings prediction market

Jinse Finance reported that Polymarket will become the designated clearing institution for the prediction market to be launched by DraftKings following its acquisition of Railbird. This move marks a significant development for Polymarket in its institutional-facing clearing business. Polymarket already has a notable presence in the global retail prediction market. Industry insider Dustin Gouker believes that DraftKings' entry will have a major impact on existing platforms such as Kalshi. Previously, Polymarket had begun testing its sports betting application in the United States. Earlier that day, Polymarket also signed a multi-year licensing agreement with the American Hockey League.