PrizePicks has formally secured an interactive fantasy sports activities working license from the New York State Gaming Commission (NYSGC), permitting the Atlanta-based operator to reenter one of many nation’s best gaming markets. The approval comes almost two years after a authorized settlement with the NYSGC that noticed the corporate pay $15 million for working with out a wagering license between 2019 and 2023.
From Settlement to Compliance: A Shift to Peer-to-Peer
“New York is home to some of the most passionate sports fans in the country, and we know they will be excited to have PrizePicks back,” mentioned CEO Mike Ybarra. “We’re thrilled to offer a great entertainment experience that elevates how they engage on game day and beyond.”
The firm plans to launch its peer-to-peer (P2P) fantasy product within the coming weeks, marking a full-scale return following its prior exit from the state. New York now turns into the sixteenth jurisdiction to formally authorize PrizePicks’ contests as authorized fantasy sports activities video games of talent.
PrizePicks’ path again to the Empire State follows main operational adjustments carried out all through 2024. After agreeing to the multimillion-dollar settlement, the corporate overhauled its mannequin from “against-the-house” every day fantasy contests—beforehand thought-about too shut to prop betting—towards a totally peer-to-peer framework designed to meet regulatory requirements.
PrizePicks Arena, launched in 2024, permits gamers to compete instantly in opposition to each other reasonably than the operator, with outcomes based mostly on lineup scores inside personal or public contests. The firm confirmed that as of August 22, 2025, its complete U.S. operation has transitioned to this compliant P2P mannequin.
Jason Barclay, PrizePicks’ Head of Public Policy and Chief Legal Officer, mentioned within the firm’s press launch, reported by PR Newswire: “We want to thank the New York State Gaming Commission for their collaboration and recognition of our peer-to-peer offering as a fantasy sports contest. We worked diligently to design a game that meets the Commission’s rigorous standards, and New York’s decision underscores the idea that innovation in fantasy sports can thrive within a clear regulatory framework.”
PrizePicks’ renewed license represents the fruits of a cooperative effort with regulators to adapt to evolving fantasy sports activities legal guidelines. The NYSGC’s October 2023 amendments prohibited contests that intently mimic proposition wagers, prompting operators like PrizePicks to refine their choices.
Underdog and Allwyn Context: A Competitive Fantasy Market
PrizePicks’ return aligns with broader adjustments in New York’s every day fantasy panorama. Rival operator Underdog reentered the state in May 2025 after beforehand halting operations when its contests have been deemed non-compliant below a brief license. Following a settlement that included an $18 million fee to regulators, Underdog relaunched its draft-style video games—illustrating the more and more structured path fantasy operators should comply with in New York.
Beyond its U.S. enlargement, PrizePicks has grown below new possession. The operator joined the Allwyn group in September 2025 by means of a $1.6 billion acquisition, integrating into one of many world’s largest gaming conglomerates. This transfer has bolstered its sources and regulatory standing, positioning it to compete extra instantly with main trade gamers comparable to DraftKings and FanDuel.
As PrizePicks prepares its relaunch, the corporate maintains that compliance and accountable gaming stay central to its operations. It was acknowledged by the National Council on Problem Gambling (NCPG) in 2025 as the primary fantasy sports activities operator to earn iCAP accreditation for accountable gaming initiatives.
