Name: DraftKings Launches Prediction Markets in 38 States
Uploaded: 2025-12-19T15:13:16-05:00
Duration: 1 s
Description: DraftKings officially launches prediction market services in 38 states, offering an alternative to sports betting in states like California and Texas.

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DraftKings Launches Prediction Markets in 38 States

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DraftKings officially launches prediction market services in 38 states, offering an alternative to sports betting in states like California and Texas.

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But let's get started here with the big story of the day coming courtesy of DraftKings who are officially jumping into the prediction market. Rumor no longer. They launched prediction market services in 38 different states. The DraftKings predictions site is now available as a stand-alone. and event contracts are available in states where sports betting is not legal. So that means California, Georgia, Texas, several other states. For those of you who can't bet on sports, you can use prediction markets. Again, these are not regulated here, state by state. And we still have to wait to see what the future holds with prediction markets in general. Meanwhile, we don't have to wait any longer, as a very big error by DraftKings that was posted during the American League Championship Series was said to be something that perhaps DraftKings could get their money back for. But the Massachusetts Gaming Commission says, no way. You guys made a mistake, you gotta pay out these people. They denied a request from DraftKings to void 27 parlay wagers from a single patriot. For a total stake of $12,950 it was on a player named Nathan Lukes, who had at least 8 total hits in the American League Championship Series during an error on the DraftKings trading site. The user bet the highest hit threshold for Lukes, 8 or more hits in the series, and parlayed it to another threshold that added no independent element of chance, and that's basically the cost of doing business. So, essentially, a mistake, made a lot of money for a patron, and he He bet $12,000 and he won over $930,000 a million-dollar mistake made by somebody at DraftKings. More details have emerged on Brian Smith, the head coach at Ohio, his firing. The university cited romantic relationships, including one he admitted to with a student, as well as an allegation of public intoxication in a letter that stated to fire him for cause. He was put on leave on December 1st. So now that we know the the specifics, we know that. Ohio not only looking for another coach, but looking to not pay their now former coach as well. Speaking of getting paid, big contract given to right-handed starter, Michael King. The Padres are bringing him back on an agreement of 3 years, $75 million. He also has an opt-out after the 2026 and 2027 season. King will bolster the Padres' rotation now moving forward. Great game, as I mentioned on Thursday Night Football, maybe the game of the year in the NFL, but definitely on Thursday night. 38 to 37, Seattle battles all the way back, including a controversial two-point conversion to give them the win, 38 to 37, and they now are in line to win the NFC West if they win out. It was an incredible performance by Pukunakua of the Rams, who's been embattled with off the field stuff all week long, but it was not enough. As the teams went back and forth, including a last-second play, and a two-point conversion that now puts the Seahawks in the driver's seat for the division, potentially. Here's Mike McDonald, who needed a breather after the win. Holy smokes. What a great football game. I mean, first of all, an incredibly electric atmosphere. I mean just an all-time great atmosphere showing by our twelves. I mean, shout out to all our people and, and, um, you know, for the Seahawks too. I mean all the lights and the, all that, I mean, it's just an electric atmosphere and then, you know, with all the adversity we're dealing with throughout the game, uh, they didn't leave us, not a seat, you know, not a seat was empty, you know, given all the circumstance, and they stuck with us and our team could feel it. And uh it was awesome. I mean what a gorgeous and just talking about our football team and just just so proud of our group. I mean this is who we are, you know, but those guys in the locker room deserve a win like that and against a really, really good team, um, you know, the, the defense that they have over there, I have a ton of respect for them, those guys over there, and obviously, uh, what Stafford has been able to do not only his whole career but today and this season has been unbelievable. But, um, yeah, just very happy for our guys. In other football headlines ahead of the games this weekend, a senior NFLPA attorney filed a federal lawsuit on Thursday alleging that the union's former executive director and two current executives conspired to keep her from cooperating with a criminal investigation into union finances. Her name is Heather McPhee, the NFLPA's associate general counsel since 2009, accusing top union executives and former executive director Lloyd Howell Jr. of illegal misconduct, sex discrimination, breach of fiduciary duty, and re. Retaliation as she prepared to become the star witness in a year-long criminal inquiry. In addition, no inquiry needed for Jacoby Myers. He's been fantastic since being traded to the Jacksonville Jaguars. They rewarded him today with the extension he was looking for. He'll be playing in Jacksonville in the future. 3 years, $60 million for Myers, who was traded by the Raiders. The Bears will be without a couple of receivers this weekend, Roma Doonze, Luther Burden, the 3rd. They have been ruled out against the Green Bay Packers. We will report back to the practice field throughout the show, tell you who's in. And who's out? Luka Dacic was in in a big way last night. Guess what? Triple-double for Luca, 45 points, 14 assists, 11 rebounds. LeBron James also had 28 points. The Lakers beat the Jazz in a high-scoring affair, 143 to 135. So yes, that did go over the total. Lakers win for the third time in 4 games, despite allowing the most points that they have this season. Here is Luca on not just getting a triple-double, saying he should have done more in the win. Yeah, I think, honestly, I could do some more. Uh, but I think that one turnover, uh, is the best, uh, stat wise on this stat sheet. Uh, so, you know, uh, we had 7 turnovers, which is impressive for us. And, you know, we won the game. In the end, that's what matters. Uh, but I think we locked in a lot in the second half. We did a great job. Um, they've got some special players and their size hurt us at, at different moments, but, um, You know, I think we don't have one person on our team who's going to put out all the fires defensively. Everybody has to take turns and. I think what, you know, our weak side defense is continuing to improve, um, you know, tonight we just had some stretches where it wasn't good enough. I think in the first half we were a little bit lazy with our hands at the point of attack, too many. Reaching fouls from secondary defenders, um. But I thought it was a heck of a game. I, I'm proud of the team's effort. Jalen Brunson hits a game-winning 3 for the Knicks. They take care of the Pacers 114 to 113. The Pacers cover the spread in this one. Brunson, 25.7 assists and 7 rebounds. The Knicks now 19-7 on the season. Here's Mike Brown on the last-second win. Man, our MVP, the league's MVP Jalen Brunson. We call a timeout. We took another timeout, drew up a different play, and as Jalen's walking out on the floor, Jalen turns to me, he says, I'm getting this win. I'm going for it. And I said, you do you. That's who you are. You do you. And he went out and he, he, he came through. That's what real MVPs do, and I'm glad I'm a part of his team. Poorer offense tonight. What did you see was some of the struggles in scoring in those moments today? Uh, I haven't looked at the film yet, but, uh, It's a hard league. It's a hard league to score in, and it's a hard league to score in crunch time. It's like the red zone in football. Anything more to the last play besides Pascal just tripping, slipping, whatever happened there? Uh, we didn't execute it well enough, so. You know, Um, it happens, you know, I. That's my responsibility. We got to execute better. A weekly and daily check-in on Nikola Jokic. Did you bet him to get a triple-double? If you did again last night, he did it again, 23 points, 13 assists, 11 rebounds as Denver beats Orlando 126 to 115. Also, Jokic passed Kareem Abdul-Jabbar in all-time assists. Jokic now has 5,667. Meanwhile, the Oklahoma City Thunder have never met a point spread that they can't beat. Yes, they took care of the Clippers as 17.5 point favorites last night. OKC 122, LA Clippers, 101, Shay Gilges Alexander, 32 points. The Clippers are having a really, really rough time this season, to say the least. Welcome back to. You are here on Sports Grid. Good morning to all of you in California, in Texas, and wherever you live that sports betting is not legal. You now have a way to get involved in the sports betting market that's not called sports betting. It's called prediction markets and I'm sure everyone is familiar with all of these companies by now, Calci, Poly Market. And crypto.com, and many others, and I'm sure you're familiar with the gentleman who you see his face next to mine, it's Sam McQuillan, cause he is gonna share the big news of the day, Sam, that one of the biggest sports betting operators has decided officially not to say they're gonna join the space, but to launch their prediction market app. So let's talk about that and what it could mean in some states that actually have regulated sports betting. Yeah, DraftKings announced today that it's going to launch prediction markets in 38 total states, which is pretty much the same number that they have a legal sports book in, and they're going to go into 17 states specifically with sports event contracts. Of course, prediction markets aren't just limited to sports, you know, as a matter of fact, they kind of started off not being in sports where you could offer, uh, you know, things on. On the outcome of the Whether the awards, different. that earlier this year, sports prediction markets emerged out of the space, giving companies like DraftKings, an avenue to reach states like California and Texas where sports betting remains illegal. Uh, it's going to be there first just with spreads and alternate spreads, and then traditional game winner money line betting options on the NBA, NFL, uh, and college basketball in the NHL to start. So that's different from. Platforms like Calhi and Polymarket, which have already expanded into other sports like boxing, uh, and I'm told from a source that, you know, if this goes well for, for, for DraftKings, uh, they're going to expand with more sports and potentially more options down the road. It comes after Fanatics made a similar move last month to launch specifically in states where it cannot offer sports betting, and the product looks and feels very similar to sports betting, but at a much more kind of limited phase right now, uh, comes as multiple. States have threatened companies like DraftKings, companies like FanDuel, that if you offer sports prediction markets in any state, not just in our state, uh, we might revoke your sports betting license. And earlier this week we talked about that happening with Underdog in Arizona, which lost its fantasy license for offering a sports event contracts. So, it seems like this kind of gray regulated industry, which looks like sports betting but isn't technically. According to a lot of people, is here to stay right now as multiple states challenge it in courts, but, you know, those lawsuits are taking up a long time. Meanwhile, the CFTC, which a lot of companies say is in charge of this thing, uh, really has not done much, uh, and it does not look like we'll really interfere with this. So, uh, we now have this landscape of where, um, these companies, these sports betting companies like DraftKings are going in and launching this product, um, reaching states like California and Texas again. Uh, with basically a sports book, um, that's not regulated like a sports book, so it'll be really interesting to see how this reshapes the whole industry going in the next year, right? Let's get to Calshi here. They made news this week as well, and, you know, everybody trying to make a buck and starting a business that could end up being a billion-dollar business. I certainly respect it. But I definitely question the intent of some of the folks that thought that this would be a good idea, meaning the idea that we're gonna discuss of actually having predictions on where kids end up transferring to through the transfer portal. My gosh, like I understand the outcomes of games and I understand trades. But Sam, like this whole transfer portal stuff is new for all of us in this world, and it involves kids sometimes that are very young as well. And, look, I'm not big on thinking that so many different things can be manipulated in sports betting. I know some are gonna happen, they're always gonna be bad actors. But man, this just opens up the door for that. Why would they wanna kick open that thing? I, I gotta wonder. Yeah, this is what goes back to one of the core arguments as to why people want sports betting regulated by the states, why they want state gambling laws to prevent things, because historically, sports books have not offered or even been able to offer markets like the ones Khi's proposing, where you can bet on, uh, not just if a college athlete is going to enter the transfer portal, but where they'll end up going, uh, which. She has signaled with its contracts saying that these markets would be resolved, you know, and things like social media posts or public reporting, even if these athletes reverse course and decide not to go through with that or go to another school, but, um, sports books aren't allowed to do this. And because prediction markets really have no rules they need to follow right now, nothing is stopping Calhi from self-certifying and listing these. with the CFTC. Now, as to why they might want to do it, um, there could be several reasons, you know, they want to, uh, the whole mission of prediction markets has been to kind of gamify and financialize everything that happens in the world, uh, including, uh, decisions that sometimes can rely on insider trading, as you alluded to Craig. It doesn't look like, at least right now, there would be any specific protocols to prevent a friend. Or family member of someone who or a college athlete who is thinking about transferring, it doesn't look like there would be any protocols to really prevent them from making a wager or benefiting on this, and we really don't know how this would all be policed. Now I want to make sure I hit home the point that this has not happened already. This is just how she's listing its intent to do this, but it's certainly making headlines. It's, you know, turning into a landscape. Where I'm on your show talking about it, how she's getting more, uh, public attention about this, you know, whether it's criticism, right or wrong, you know, all publicity is good publicity. Um, but meanwhile, it kind of further differentiates them as prediction markets attempting to go much further and much farther than sports books ever have been able to. The NCAA came out, you know, not so surprisingly, and criticized this, called call she an unregulated. Amint and said that this Kind of a terror. Kashi responded saying, regulated by the CFTC, which obviously hasn't done much, so, uh, we'll see if this even ends up getting, you know, becoming a thing by next year, but, um, it certainly would attract a lot of people interested in betting on this kind of thing, you know, you had over, I think, over 2000, uh, D1 football players just last year enter the transfer portal. So, you know, people love to bet on everything. If you give them another way to do it. Um, I certainly don't think they'll scoff at that. And meanwhile, regulation and Anyone who's trying to stop this, it seems to be kind of waiting in the wings, um, sloshing through the courts. Yeah, definitely so. All right, so let's end with some sports betting news. Sports books in Pennsylvania, got some numbers in from the month of November, Sam, and the big holiday month and a lot of football on Thanksgiving Thursday, I'm guessing a pretty solid outcome here. Yeah, Pennsylvania is one of the first states to report its monthly sports betting numbers, which pretty much gives us a good look at where sports betting in the entire country did during the month of November. Pennsylvania also being one of the largest states and first states to legalize. There was $991 million in handle, that's money bet on sports during the month of November in Pennsylvania, and operators took home a record $125 million in revenue off of the 13. 1 % hold, that means 13% of all the money that was bet, operators kept as kind of profits that they made off of sports betting. Um, and it was, as you alluded to, Greg, it was a huge month, uh, sports betting wise in the NFL. You had several games on Thanksgiving, which generated record handle. Uh, for once this year, it was actually some good matchups and good games that we were watching instead of, you know, years past where you had some lowly teams kind of, you know, slogging through the day. So, I think that definitely. Attracted a lot more betting as well. And uh the public overall really did not do well, which is again why you see that huge whole percent number uh for the sports books in the month. You had teams that got at least 60% of bets, um, they performed about 37% against the spread. So, most of the teams that the public was backing did not cover the spread. That's always good for the sports books, which again, made a lot of profit off of, uh, same game. Doing really well in the month, uh, as well as some, you know, high profile teams like the Chiefs, not making the playoffs, missing the playoffs, uh, and out of Super Bowl contention. They always attract a lot of futures bets, and then especially you have the month of, um, it was a month where Missouri launched sports. Betting as well. So, a lot of bets were tied to the Chiefs and sports books really cleaned up, and they'll be hoping for the same story in December as we round out into the playoffs, and then eventually over into March Madness and the rest of the year, but a huge bounce back month so far for sports books. All right, Sam, thanks for coming on. Have a great weekend. Happy holidays. We'll talk again next week. Thanks again. Yeah, thanks. You too, Craig.

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