PrizePicks set for New York return with new DFS license
Fantasy sports operator to offer peer-to-peer contests in the Empire State following the conclusion of a long-standing legal dispute
PrizePicks has been granted an interactive fantasy sports operating license by the New York State Gaming Commission (NYSGC), paving the way for its return to the Empire State.
The license will allow the DFS operator to offer peer-to-peer contests to players in New York, with the rollout expected over the coming weeks.
The move comes ahead of pan-European lottery and gaming operator Allwyn taking a controlling 62.3% stake in PrizePicks, a deal expected to complete in H1 2026.
PrizePicks initially entered the New York market in 2019, but ceased operations in February 2024 following a crackdown on DFS products by state regulators.
The NYSGC deemed any pick’em-style games which pitted players against each other illegal, leading PrizePicks to momentarily shutter its operations.
PrizePicks eventually reached a $15m settlement with the NYSGC in November 2024, with the sum based on revenue generated between June 2019 and December 2023.
The matter is now considered resolved, leaving PrizePicks free to apply for another license in the state.
Jason Barclay, PrizePicks’ head of public policy and chief legal officer, said: “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 CEO Mike Ybarra added: “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.
“We’re thrilled to offer a great entertainment experience that elevates how they engage on game day and beyond.”
New York State Senator Joseph Addabbo noted the NYSGC was “making a clear statement” by granting the license to PrizePicks.
He said: “By issuing this license, the Gaming Commission is making a clear statement that our state will continue to embrace innovative daily fantasy sports (DFS) games that provide New Yorkers with safe, skill-based contests they can enjoy with friends, family, and fellow sports fans.”
Earlier this month, PrizePicks announced a string of new social features for its platform, designed to drive engagement within the operator’s DFS community.
In September, PrizePicks was also granted approval by the US Commodity Futures Trading Commission (CFTC), potentially paving the way for a prediction markets venture in the future.