Rush Street Interactive Applies for Prediction Markets License
Gambling giant Rush Street Interactive (RSI) is exploring avenues into the growing prediction-markets vertical. The parent company of BetRivers has applied for a Designated Contract Market (DCM) license. That’s the first step toward offering an established online prediction market.
Rush Street Interactive already operates regulated online casinos and sportsbooks across the U.S. However, this would be a first in the world of prediction markets, which is currently dominated by platforms such as Kalshi and Polymarket.
At a Glance:
- Rush Street Interactive applies for a DCM license from the CFTC
- The DCM allows RSI to operate as a derivatives platform
- Federal CFTC would regulate, not state gambling commissions
- RSI is the parent company of BetRivers, which operates online casinos and sportsbooks.
Rush Street Interactive building on bumper year
Rush Street Interactive is already celebrating a record year for gambling revenue.
In the latest quarterly results, published in April, revenue was $370.4 million, up 41% year over year. Net income was also a record $26.2 million, representing a 134% increase over the same period in 2025.
RSI currently operates online casinos or sportsbooks in 15 U.S. states, including brands such as BetRivers, PlaySugarHouse, and RushBet.
However, Rush Street Interactive certainly feels that prediction markets are the future. Additionally, a federal license covers all bases rather than applying for individual licenses.
It would also give the operator wider access, especially to states that don’t have online sportsbooks of their own.
DraftKings and FanDuel joining the prediction party
Established sportsbooks are muscling in on the prediction market sphere apace.
DraftKings launched its DraftKings Predictions app in 2025 under the oversight of the CFTC (Commodity Futures Trading Commission). Rival FanDuel was not far behind, launching FanDuel Predicts at the turn of the year.
Here are some early frontrunners in the sports betting industry branching out. Curiously, Caesars, bet365, and BetMGM are so far reticent about diversifying:
- DraftKings Predictions (with Railbird)
- FanDuel Predicts (with CME Group)
- Fanatics Markets (with CDNA)
- Rush Street Interactive (with Eventive III LLC)
Regulatory battles continue amid uncertainty
Prediction markets continue to rile state gaming commissions over the nature of their product.
States like Arizona and Minnesota have been quick to sue federally regulated platforms like Kalshi. They argue that prediction markets amount to sports betting and are therefore licensable in-state.
The prediction markets are fighting back, saying they are share-trading platforms and regulated by the CFTC. Donald Trump has even fought their corner, supporting the CFTC’s regulatory powers over the markets.
The cases are now being discussed in the U.S. Senate, with arguments being heard on both sides. While there are concerns over sports integrity and the effect on tribal gaming, expect to hear plenty more arguments over who should regulate the industry.
For now, established gaming operators like Rush Street Interactive will continue to find inroads into one of the most exciting new online trends.
