DraftKings CEO: “We put ourselves in a win-win spot”
CEO Jason Robins says rivals have staked everything on one outcome of a possible Supreme Court case.
The hit
DraftKings CEO Jason Robins says the firm will not offer prediction markets in states where it already holds a sports betting licence, calling the move a “win-win”, according to CDC Gaming.
Why it matters
A possible Supreme Court case over the legality of sports event contracts could leave firms exposed if judges rule against them. Robins says DraftKings hasn’t bet its whole business on one outcome, unlike rivals who have gone all in on prediction markets, so it stays protected whichever way the case goes.
The record
| DraftKings Predictions & DKEx launch | 19 December (company) |
|---|---|
| Regulatory oversight | Commodity Futures Trading Commission |
| Comments made | Next Predict Summit, New York, Thursday |
| Interviewer | Contessa Brewer, CNBC |
What happens next
Watch for any Supreme Court move on sports event contracts, which Robins says could strip the products from rivals more exposed than DraftKings.
Sources: DraftKings CEO Robins says company in win-win position in prediction market legal battle
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