Well, this was sort of predictable . DraftKings Sportsbook announced on Tuesday it has purchased Railbird, a federally licensed exchange company, with the goal of expanding into the predictions market.

“We are excited about the additional opportunity that prediction markets could represent for our business,” DraftKings CEO and co-founder Jason Robins said in a release.

“We believe that Railbird’s team and platform—combined with DraftKings’ scale, trusted brand, and proven expertise in mobile-first products—positions us to win in this incremental space.”

DraftKings said it plans to launch DraftKings Predictions , a mobile application that will allow users to trade event “contracts” on real-world events, though it did not list sports among its targets for now .

DraftKings on

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