DraftKings intends to implement a cryptocurrency deposit feature across Illinois, Kentucky, New Hampshire and Vermont.
DraftKings intends to implement a cryptocurrency deposit feature across Illinois, Kentucky, New Hampshire and Vermont, according to information shared during a Massachusetts Gaming Commission (MGC) hearing last week.
Under the proposed framework, customers will be permitted to fund their accounts using digital currencies, which are immediately converted into dollars for wagering purposes.
MGC Chief of the Sports Wagering Division Carrie Torrisi explained during the hearing: “[Before] this language was removed from the commission’s regulations, DraftKings had been working towards the launch of a new deposit method that would allow patrons to deposit converted cryptocurrency via a third-party platform.”
Later in the discussion, MGC Chair Jordan Maynard confirmed the move, stating: “It’s Kentucky, Vermont, New Hampshire and I believe Illinois who have allowed this.”
Although the company confirmed its intent to expand into these four specific markets, it did not provide a definitive date for the commencement of the service.
It appears DraftKings also intended to introduce crypto deposits in its home state of Massachusetts, but was prevented from doing so by local regulations.
The MGC implemented a rule on 19 December 2025 that explicitly prohibits the use of cryptocurrency as a funding source for licensed sports wagering accounts, even when the assets are converted to cash.
This policy was established by the commission to address specific concerns regarding money laundering and the difficulties in tracing the original provenance of digital funds.
During the hearing, the commission denied a formal request from DraftKings to utilise the technology within Massachusetts, citing the need for rigorous financial oversight.
The commission determined that the conversion process from digital assets into cash did not sufficiently mitigate the risks associated with anonymous transactions identified during its deliberations last year.
Consequently, the firm is directing its efforts toward jurisdictions that have shown greater receptivity to alternative payment technologies within the regulated gambling sector.
Shifting the paradigm
As is the case across the US, the selected states operate under individual legislative structures. All four chosen by DraftKings currently permit the integration of such payment methods.
By requiring the conversion of cryptocurrency into US dollars before the funds are credited to a betting account, the company seeks to resolve the problem of asset volatility.
This conversion solution allows for the integration of cryptocurrencies while ensuring that the value available for gambling remains consistent in fiat currency.
It also provides an additional layer of transaction processing that traditional banking methods may not offer to certain segments of the market.
The operator has not specified which digital currencies will be compatible with the system or the identity of the third-party facilitators that will manage the exchange into US dollars.
However, Bitcoin, Ethereum and several others that have maintained a high degree of popularity are likely to be on the list.
In similar financial environments, these processes usually involve external exchanges that perform identity verification before completing the transfer.
The adoption of these features signifies a change in how major operators cater to customer preferences, despite the ongoing debate among state officials regarding the security of digital finance.
The rollout may also serve to fill a gap left by the company’s decision last year to stop accepting credit card deposits in several regions.