PrizePicks has returned to New York after securing an interactive daily fantasy sports license from the New York State Gaming Commission, relaunching its platform with a peer-to-peer product called PrizePicks Arena.
The Atlanta-based company had exited the state in 2024 after regulators restricted against-the-house, pick’em-style contests that resembled proposition betting.
Arena, which debuted nationally in January 2024, allows players to compete against one another by paying entry fees for a chance to win prizes based on player lineups. The P2P model has enabled PrizePicks to operate in jurisdictions that restrict or prohibit against-the-house DFS contests. The company transitioned to P2P-only products across the United States last summer.
“Returning to New York is a testament to the state’s commitment to embracing innovative gaming products,” said PrizePicks SVP of Government Affairs Nick Zabriskie. “Players deserve a competitive landscape, allowing them to engage with their favorite contests in a regulated environment.”
PrizePicks’ return follows a $15 million settlement reached with the NYSGC in February 2024 after regulators determined the company had operated without a wagering license. The commission found that between June 2019 and December 2023, PrizePicks accepted entries it deemed equivalent to sports wagers without proper authorization.
The settlement amount was tied to revenue generated from those contests. Relations later improved, and in October 2025, the NYSGC awarded PrizePicks a fantasy sports license, clearing the way for the company to re-enter the market with its P2P model.
New York is now the 16th state to approve PrizePicks’ fantasy contests.
PrizePicks is returning to the Empire State under new ownership. Last month, European lottery operator Allwyn completed the acquisition of a 62.3% stake in the company in a transaction valued at about $1.5 billion, with additional performance-based payments possible.
Beyond its DFS pivot, PrizePicks has also expanded into event contract trading. In November, the company launched event contracts through a subsidiary registered with the Commodity Futures Trading Commission as a futures commission merchant and announced a multiyear partnership with Kalshi. PrizePicks has also reached an agreement to offer Polymarket contracts through its app.
Following those announcements, and weeks after PrizePicks received its DFS license, NYSGC Chair Brian O’Dwyer said in November that the commission would reassess the licensing status of prediction market participants operating in the state.
Original article: https://www.yogonet.com/international/news/2026/02/06/117489-prizepicks-relaunches-in-new-york-with-peertopeer-dfs
