He ran out of time.
How is this a draw?!

It's part of the rules here. If your opponent runs out of time and you have no way to produce a checkmate the result is draw by insufficient material. I am sure someone else can explain it better or you can search for similar topics. This comes up periodically.
Your opponent claimed a draw because you cannot win, which is his right to do in a speed game. Typically done because he is running out of time. He must do this before he runs out of time in the FIDE rules, but I see on your screen shot he is out of time, so maybe the online engine automatically gave him a draw without him claiming it, because by FIDE speed rules the screenshot is a loss on time for him, not a draw.

lenslens1 wrote:
Your opponent claimed a draw because you cannot win, which is his right to do in a speed game. Typically done because he is running out of time. He must do this before he runs out of time in the FIDE rules, but I see on your screen shot he is out of time, so maybe the online engine automatically gave him a draw without him claiming it, because by FIDE speed rules the screenshot is a loss on time for him, not a draw.
Yes the draw is automatically done by the server.

@lenslens1:
even by fide rules it's a draw because of insufficient material. no need to claim it before the time runs out. (or show me the rule where it states something different)

Incidentally, the opponent isn't claiming the draw. When time expires the server will evaluate the position and award the draw.

Josh, Good question, I'm also trying to learn all the chess rules myself.
I didn't about this before your question either. Thanks Josh

this happened to me recently. my opp ran out of time but was awarded a draw rather than a loss because i had insufficient material to win had the game continued. it makes sense. it is a timed conflict so there must be a different resolution to a win/loss when this occurs, and the clear and fair alternative is a draw.
I thought insufficient material meant a Knight/bishop & King apiece. How is this insufficient material when my opponent had a queenable pawn??