DraftKings' DKeX Sees Surge in NFL Prediction Market Activity

DraftKings' prediction market exchange DKeX is off to a strong start in the NFL season, generating an estimated $106,000 in market maker fees over two games. The Jefferies estimate suggests that if this pace continues, DKeX could rake in up to $57 million in exchange fees for the entire season.

This comes as no surprise, given the significant surge in prediction market activity following the first two NFL games of the season. According to Jefferies, contract volume on DKeX reached $42 million and Crypto.com's Nadex saw $16 million over these two contests. The Patriots-Seahawks game was particularly notable, ranking as one of the 10 highest-volume days in prediction market history.

Crypto.com's Nadex also showed impressive numbers, with an estimated $5 million in revenue potential for this NFL season. However, Robinhood Markets Inc.'s recent partnership with Crypto.com could further boost Nadex's volumes and revenue.