PrizePicks reenters New York market after obtaining license from gaming regulators

Nearly two years after paying $15 million to settle an unlicensed operations case, PrizePicks is reestablishing its presence in New York, armed with a new license and a peer-to-peer fantasy contest format approved by regulators.

The New York State Gaming Commission (NYSGC) confirmed that PrizePicks met all requirements to resume operations in the state, granting the company an interactive fantasy sports license. The operator will reintroduce its peer-to-peer fantasy contests in New York in the coming weeks.

In a letter dated October 10, the NYSGC stated that the operator satisfied the conditions necessary to offer its contests in the market. The approval follows months of coordination between PrizePicks and regulators to align the company’s offerings with state rules for fantasy sports.

“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,” said Jason Barclay, PrizePicks’ Head of Public Policy and Chief Legal Officer.

Legal background and settlement

PrizePicks ceased its for-money contests in February 2024 as part of a settlement agreement with the NYSGC, which required the operator to pay nearly $15 million for conducting business without a license. The settlement was reached four months after New York updated its fantasy sports regulations, clarifying that contests designed to imitate prop betting were not permitted.

New York State Sen. Joseph Addabbo said the commission’s latest decision affirms the state’s position on skill-based fantasy contests. “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,” Addabbo said.

Industry recognition and market reach

“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,” said Mike Ybarra, CEO of PrizePicks. “We’re thrilled to offer a great entertainment experience that elevates how they engage on game day and beyond.”

New York becomes the 16th jurisdiction to formally recognize PrizePicks’ contests as games of skill under fantasy sports laws. The Atlanta-based company currently operates in more than 45 jurisdictions across North America.

PrizePicks said responsible gaming remains a central focus as it continues entering regulated markets. In 2025, the operator received iCAP accreditation from the National Council on Problem Gambling for its responsible gaming programs, becoming the first fantasy sports company to earn the certification.

Based in Atlanta, Georgia, PrizePicks describes itself as a sports entertainment operator offering skill-based fantasy contests for fans across the United States.