PrizePicks has officially secured an interactive fantasy sports license from the New York State Gaming Commission (NYSGC), marking its return to the Empire State nearly two years after reaching a settlement with the regulator.
The North American fantasy sports operator plans to launch its new peer-to-peer (P2P) fantasy product in New York in the coming weeks.
“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,” PrizePicks CEO Mike Ybarra said. “We’re thrilled to offer a great entertainment experience that elevates how they engage on game day and beyond.”
PrizePicks’ comeback follows a $15 million settlement with the NYSGC in 2024, which resolved allegations that the sports operator ran contests without a proper license between 2019 and 2023. Since then, the company has worked closely with state regulators to align its operations with New York’s strengthened fantasy sports rules, which were expanded in 2023.
The license approval makes New York the 16th jurisdiction to formally recognize PrizePicks’ fantasy contests as games of skill under state law.
PrizePicks introduces P2P platform to New York
The New York launch will feature PrizePicks Arena, the company’s P2P platform introduced in 2024. The Arena format allows users to compete directly against one another by paying entry fees for the chance to win prizes based on lineup performance within their group.
“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,” Jason Barclay, Head of Public Policy and Chief Legal Officer at PrizePicks, said.
“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,” Barclay added.
In addition to traditional sports, PrizePicks continues to diversify its content through The Esports Lab, a fantasy esports platform. The site includes stats and guides for tournaments in major esports titles such as CS2, Dota 2, and League of Legends.
PrizePicks’ momentum is further bolstered by its recent acquisition deal with European lottery giant Allwyn International AG. The $2.5 billion transaction, finalized earlier this year, gives Allwyn a majority stake in PrizePicks, its largest U.S. investment to date.
The partnership is expected to accelerate PrizePicks’ growth and innovation, combining its U.S. fantasy sports expertise with Allwyn’s global gaming resources.
Published: Oct 16, 2025 03:52 am