PrizePicks Secures New York Gaming License, Set to Re-enter State Market

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PrizePicks has officially obtained an interactive fantasy sports operating license from the New York State Gaming Commission (NYSGC), paving the way for its return to the state market. The fantasy sports operator had been absent from New York for over 18 months following a regulatory shift and a subsequent settlement. The company plans to launch its peer-to-peer contests in the coming weeks, aiming to provide a compliant and engaging experience for New York’s passionate sports fans.

Key Takeaways

PrizePicks has been awarded an interactive fantasy sports operating license by the NYSGC.
The company will reintroduce its peer-to-peer fantasy contests in New York in the coming weeks.
This return follows a legal settlement and a period of working with regulators to ensure compliance.
New York marks the 16th jurisdiction to recognize PrizePicks’ contests as games of skill.

Return to the Empire State

After an absence of more than 18 months, PrizePicks is poised to re-enter the New York market. The Atlanta-headquartered company secured an interactive fantasy sports operating license from the New York State Gaming Commission. This development comes after a legal settlement in early 2024, where PrizePicks agreed to pay back revenue generated from its previous operations between 2019 and 2023. The NYSGC had previously banned prop-style fantasy contests in October 2023, leading to PrizePicks’ temporary withdrawal.

Compliance and New Offerings

PrizePicks has been working closely with New York gaming regulators to ensure its new peer-to-peer contests meet the state’s stringent fantasy sports requirements. Jason Barclay, Chief Legal Officer at PrizePicks, expressed gratitude for the collaboration, stating, "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." This move signifies New York as the 16th jurisdiction to formally recognize PrizePicks’ contests as games of skill under its fantasy sports laws.

Industry Recognition and Future Outlook

Mike Ybarra, CEO of PrizePicks, shared his enthusiasm for the return, noting, “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.” The company, which operates in over 45 jurisdictions across North America, emphasizes responsible gaming as a core focus. Notably, PrizePicks recently received iCAP accreditation from the National Council on Problem Gambling for its responsible gaming programs, becoming the first fantasy sports company to achieve this certification.

This re-entry into New York follows a similar path for rival Underdog, which also returned to the state with a temporary license after regulatory adjustments, though its pick’em games were initially excluded.