DraftKings Predictions: DKeX, States, Fees and How It Works

DraftKings Predictions is DraftKings’ federally regulated prediction market, where adults aged 18 or over trade yes/no event contracts on sports, finance, crypto, politics and culture. It launched on 19 December 2025 and, since 26 June 2026, has run partly on DKeX, DraftKings’ own exchange built on the CFTC licence of Railbird Exchange, LLC. As of October 2026 it is offered in 48 states (not Maine or New Hampshire) plus Washington, DC, with sports contracts in 18 states. This page explains how it works; it is information only and contains no sign-up links.

Prediction markets are financial products regulated by the Commodity Futures Trading Commission (CFTC), not by state gaming boards, and their legal status for sports contracts is being fought over in several federal courts. Our prediction markets hub covers the wider picture; this guide stays with DraftKings. If trading or gambling stops being fun, call or text 1-800-MY-RESET, the free national helpline of the National Council on Problem Gambling.

What is DraftKings Predictions?

DraftKings Predictions is a brokerage-style product that lets you buy and sell event contracts listed on CFTC-registered exchanges. Each contract asks a question such as “Will the Packers beat the Lions?” and settles at $1 if the answer is yes and $0 if it is no. Prices move between 1 cent and 99 cents as other traders buy and sell, and the price works as the market’s implied probability.

The product sits inside the DraftKings: Sports & Casino app and on the web at predictions.draftkings.com. DraftKings’ 26 June 2026 release describes a single “DraftKings Sports” experience in which customers see sportsbook offers, sports event contracts or both, depending on where they are standing. Outside sport, the market list on 25 October 2026 included crypto prices (Bitcoin, Ethereum, Solana, XRP), Federal Reserve and inflation questions, US elections, awards shows and a climate category.

There is no house edge in the sportsbook sense. DraftKings earns a per-contract fee on each trade, and the price itself is set by buyers and sellers on the exchange order book, which is why the language on this page is “trade”, “contract” and “price” rather than betting terms.

Who regulates DraftKings Predictions, and what is DKeX?

Three layers of regulation apply. The exchanges that list the contracts are CFTC-registered designated contract markets (DCMs); the broker that holds your account is CFTC-registered and a member of the National Futures Association (NFA); and the clearing houses that settle trades are CFTC-registered derivatives clearing organisations. State gaming regulators do not license the product, which is exactly what the court cases below are about.

DKeX matters because it changes who owns the market. When Predictions launched in December 2025 it relied on outside exchanges. With DKeX, DraftKings controls listing, content and fees on its own venue. The company reported about $3.4 billion in annualised consumer volume and about $11.3 billion in annualised total trading volume for the week ended 21 June 2026, and said more than 30% of customers had used combinations (several contracts bundled into one position) since they launched in mid-May 2026.

Your fee depends partly on which venue lists the contract. DraftKings’ fee schedule has one table for “CDNA and DKeX Markets” and a separate flat schedule for “CME Markets”, so the rules link on each market is worth a glance before you trade.

How is it different from DraftKings Sportsbook?

The sportsbook and the prediction market share a brand, a login and an app, but they are legally different products. DraftKings Sportsbook is licensed state by state by gaming regulators, requires you to be 21 or over, and sets its own prices with a margin built in. DraftKings Predictions is a federally regulated derivatives product, open at 18, where prices come from other traders and DraftKings charges a visible fee per contract.

The split explains the state map. In states where DraftKings runs a licensed sportsbook, sport is handled by the sportsbook and the prediction market offers non-sports contracts. Sports contracts appear mainly where there is no legal online sportsbook, such as California and Texas. Our state-by-state guide to US sports betting lists where licensed sportsbooks operate.

Which states can use DraftKings Predictions, and what is the minimum age?

DraftKings Predictions is available in 48 states, Washington, DC and US territories as of October 2026; the two states with no markets at all are Maine and New Hampshire, where DraftKings runs the online sportsbook. Availability depends on where you are physically located, and the product is not available on tribal land. The minimum age is 18, or the local age of majority where that is higher.

DraftKings’ availability page sorts states into four groups: all markets available, financial markets only, sports markets unavailable, and no markets available. The state list below comes from DraftKings Network (updated 22 July 2026) and matches the terms of use; use the live map at DraftKings’ availability page before relying on it, because the company can change state access without notice.

• Predictions available (48 states): every state except Maine and New Hampshire, including large states without online sportsbooks such as California, Texas, Georgia, Minnesota and South Carolina.
• Sports contracts: 18 states, according to DraftKings’ 26 June 2026 release, mostly states without a legal online sportsbook.
• DraftKings Sportsbook instead of sports contracts: Arizona, Arkansas, Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, Vermont, Virginia, West Virginia, Wyoming and Washington, DC.
• Not available: on tribal land in any state, and outside the US.

The age gap is the most contested difference. Sports leagues and several states argue that an 18+ product covering the same games as a 21+ sportsbook undermines state law, and the Sixth Circuit flagged the 18 versus 21 issue in its September 2026 ruling. Rules could tighten, so treat 18 as the October 2026 position, not a permanent one.

How do you sign up and place a first trade?

Sign-up takes a few minutes if you already have a DraftKings account, because Predictions uses the same login. Federal rules require identity checks, so expect to confirm your name, date of birth, address and Social Security number, and to allow location checks on your phone or browser.

1. Open predictions.draftkings.com or the DraftKings: Sports & Casino app and log in or create an account.
2. Accept the Predictions terms of use and the event contracts risk disclosure; you also agree to be bound by the DKeX rulebook.
3. Complete identity verification and allow location access, so the app knows which markets your state permits.
4. Deposit funds through the cashier.
5. Choose a market, read its rules and settlement source, then pick Yes or No and the number of contracts.
6. Check the estimated cost, the fee and the maximum payout, then confirm. You can hold to settlement or sell before the event ends.

What does DraftKings Predictions charge? Fees with a worked example

DraftKings charges a fee per contract traded, published in its Standard Pricing Fee Schedule. For contracts on DKeX and Crypto.com (CDNA) markets the fee rises with price to a cap of $0.02 per contract between $0.30 and $0.94, then falls near the extremes. CME-listed markets carry a flat total of $0.01 or $0.02 per contract. Fees apply when you buy and when you sell.

Here is an example with our own numbers (prices are illustrative, not live). You think a team’s chance of winning is higher than the market’s 45%. You buy 200 Yes contracts at $0.45 on a DKeX market.

• Cost: 200 × $0.45 = $90.00, plus a fee of 200 × $0.02 = $4.00, so $94.00 in total.
• If Yes wins: 200 contracts settle at $1, paying $200.00. Profit = $200.00 − $94.00 = $106.00.
• If No wins: the contracts settle at $0 and you lose the full $94.00, never more.
• If you sell early at $0.70: proceeds are 200 × $0.70 = $140.00, minus another $4.00 fee, so $136.00. Profit = $136.00 − $94.00 = $42.00.
• Break-even: you pay $0.47 per contract all-in for a $1 payout, so the trade only makes sense if you believe the true chance is above 47%, not 45%.

The flat-cap design hurts most at high prices. At $0.90, the $0.02 fee is 2.2% of the outlay but 20% of the maximum $0.10 profit per contract. Our explainer on converting odds into implied probability shows the same break-even logic from the sportsbook side.

How does that compare? The same 200 contracts at $0.45 cost the following in fees under each operator’s published schedule in October 2026:

At mid-range prices the three sportsbook brands converge on 2 cents a contract. Kalshi’s curved formula is cheaper in the middle and much cheaper near the extremes, while its resting (maker) orders on fee-bearing markets pay a quarter of the taker rate.

How do you deposit and withdraw?

Predictions uses the DraftKings account wallet. CBS Sports listed online banking (ACH), debit cards, Apple Pay, PayPal, Venmo and wire transfers as deposit options in October 2026, and said credit cards are not accepted. DraftKings’ terms say customer funds tied to trades are held through the FCMs and clearing houses that process them, not by the sportsbook.

Withdrawal options usually mirror the method you deposited with, and identity checks must be complete before the first cash-out. The DraftKings help centre has a Predictions section under “Managing Your Funds” with current limits; methods available to you can vary by state and bank. Our general guide to payment methods explains how ACH, cards and e-wallets differ on speed and fees.

What is the current DraftKings Predictions offer?

On 25 October 2026 the DraftKings Predictions promotions page advertised, for new customers: “Spend $5, Get $200 Predictions Dollars + 3 Months of NBA League Pass”. The summary says new customers who make a first trade of $5 or more get $200 in bonuses over 21 days, plus three months of NBA League Pass. A separate refer-a-friend offer was also listed.

We hold no DraftKings promo code and are not paid for sign-ups. Offers change often and differ by state, so read the full terms in the app before trading. Bonus “Predictions Dollars” are not cash; how they are released over the 21 days and when they expire is set out in those terms. Our guide to how bonus terms work explains why a large headline number is worth much less than its face value once release rules and expiry are applied.

What can you trade on DraftKings Predictions?

Contract types fall into a few families, all settling at $1 or $0:

• Game outcomes: who wins, spreads and totals, shown as a percentage price for each side.
• Player contracts: touchdowns, passing, rushing and receiving yards in the NFL, plus MLB player and futures contracts, NRFI (no runs first inning) and wider NBA and NHL selections added in 2026.
• Futures: season-long questions such as champions.
• Combinations: several contracts bundled into one position, which pay only if every leg is right.
• Non-sports: crypto price levels, stock market and economic data, elections, culture and climate.

Combinations look like sportsbook parlays, and the maths is similar: the chance of every leg landing is the product of the individual chances. Four legs each priced at 60% combine to about 13% (0.6 × 0.6 × 0.6 × 0.6 = 0.1296). Our guide to bet types covers how multiples behave on the sportsbook side.

Is DraftKings Predictions legal in your state?

Non-sports contracts face little legal challenge, but sports event contracts are contested. Two federal appeals courts have ruled that states may apply their gambling laws to sports contracts, one has ruled the other way, and the US Supreme Court has a petition pending. DraftKings narrows its sports offering to states without its licensed sportsbook, but court rulings can still change availability quickly.

• Third Circuit (New Jersey), 6 April 2026: in KalshiEX v. Flaherty the court held, at the preliminary-injunction stage, that Kalshi’s sports contracts were swaps under federal law and blocked New Jersey enforcement.
• Ninth Circuit (Nevada), 28 August 2026: in KalshiEX v. Assad (No. 25-7516) the court rejected federal pre-emption of Nevada gaming law for sports contracts.
• Sixth Circuit (Ohio and Tennessee), 25 September 2026: the court affirmed Ohio’s win and vacated Kalshi’s Tennessee injunction, holding that states can regulate these contracts.
• Supreme Court, No. 26-299: New Jersey filed its petition on 2 September 2026; Kalshi’s response is due 9 November 2026, and no decision on whether to hear the case had been made as of 25 October 2026.

None of these cases names DraftKings, but each affects the legal basis every sports prediction market relies on. A Supreme Court grant would likely settle the question nationally in 2027.

Pros and cons of DraftKings Predictions

DraftKings Predictions vs FanDuel Predicts vs Fanatics Markets

All three sportsbook brands now run prediction markets under CFTC rules, but they differ on reach, age and exchange. The table compares the facts each operator published as of 25 October 2026.

For an exchange that is not tied to a sportsbook, see our guide to Novig, and for pick’em products that sit alongside prediction markets, our page on PrizePicks.

Frequently asked questions

Is DraftKings Predictions the same as DraftKings Sportsbook?

No. The sportsbook is licensed by state gaming regulators, is 21+ and sets its own prices. DraftKings Predictions is a CFTC-regulated event contracts product, open at 18, where prices come from other traders and DraftKings charges a per-contract fee. Both sit in the same DraftKings app, which shows whichever product your location allows.

What is DKeX?

DKeX is DraftKings’ own prediction market exchange, the trading name of Railbird Exchange, LLC, a CFTC-registered designated contract market. DraftKings launched it on 26 June 2026 using the licence and technology from its acquisition of Railbird. Predictions also routes some markets to CME and Crypto.com exchanges.

How old do you have to be to use DraftKings Predictions?

At least 18, according to DraftKings’ terms of use, or the age of majority in your state if that is higher. That is lower than the 21+ rule for the DraftKings Sportsbook, and the age gap is one of the issues being argued in court and by sports leagues.

Which states cannot use DraftKings Predictions?

As of October 2026 no markets are available in Maine or New Hampshire, where DraftKings runs the online sportsbook, or on tribal land anywhere. The other 48 states and Washington, DC have at least some markets, but sports contracts are offered in only 18 states.

How much does DraftKings Predictions charge per trade?

The fee is per contract and depends on price and venue. On DKeX and Crypto.com markets it peaks at $0.02 per contract for prices from $0.30 to $0.94; CME markets cost a flat $0.01 or $0.02 per contract. Buying 200 contracts at $0.45 therefore costs $4.00 in fees.

Is there a DraftKings Predictions promo code?

We do not have one. On 25 October 2026 DraftKings’ own promotions page advertised $200 in Predictions Dollars over 21 days for new customers whose first trade is $5 or more, plus three months of NBA League Pass. Check the full terms in the app, as offers change and vary by state.

Can I use DraftKings Predictions outside the US?

No. The terms of use require you to be a US resident and physically located in an eligible US state, Washington, DC or a US territory. International readers should use bookmakers licensed in their own country instead.