PrizePicks to exit Canada by April 3 as it shifts focus to U.S. expansion

Daily fantasy sports (DFS) operator PrizePicks will exit the Canadian market by April 3 as the company shifts its focus toward expansion in the United States and the development of prediction market products.

The company informed Canadian customers that DFS contests will cease within the next week. PrizePicks said it will stop accepting lineups and deposits after March 10, while users must withdraw funds from their accounts by April 2.

A spokesperson confirmed the plans, saying the move is part of a broader strategy centred on U.S. growth.

“On March 3, PrizePicks announced its planned exit from the Canadian market. We are currently hyper-focused on our continued expansion across the U.S. and delivering the best product experience for our players,” the spokesperson said.

PrizePicks did not operate DFS contests in Ontario because it was not licensed there, although it offered contests in other Canadian provinces.

The company has been expanding its presence in the United States, including through prediction market products launched in November via its subsidiary Performance Predictions II, a federally approved futures commission merchant. PrizePicks also announced a multi-year partnership with Kalshi.

PrizePicks currently offers sports event contracts in 35 states and prediction market contracts in 48 states, though such contracts are not available in Nevada or Arizona.

The operator recently relaunched peer-to-peer DFS contests in New York after securing an interactive fantasy sports operating license in October. PrizePicks had previously shut down paid contests in the state in February 2024 following a legal settlement with the New York State Gaming Commission.