Does anyone know what draftboard is? Is it MDF? Is it similar to MDF?
I emailed support and they really did not answer the question. The response was “it is engineered wood material” and I should post here to see if anyone knows. So that is what I am doing 
TIA
Yes, it is similar to store-bought MDF.
It’s an MDF specifically chosen to go with the GF. I believe it should be low formaldehyde. None of the MDF I’ve purchased elsewhere looks anything like it, but I’m sure you could find something very close if you wanted to.
IMO - I think the PG MDF is better than others. I’ve cut a wide selection of different MDF’s and just have much better luck / consistency with the proofgrade stuff. A single source will yield better product, the stuff you get at big box suppliers will vary with what they can get for a price. Home Depot stuff is a little consistent, but only in batches.
That’s my opinion and I’m sticking to it. 
Yes, as others have said, draftboard falls under the definition of MDF. It is the most consistent MDF I have found and tends to be closer to HDF or hardboard than most.
IMPORTANT: AFAIK Laser safe MDF is not the same as regular MDF. It uses different glues to avoid toxicity.