PrizePicks has expanded its offerings across numerous jurisdictions, with Team Picks now available in 30 states and Washington, D.C., and Culture Picks accessible in 48 states and D.C., following Allwyn International AG’s completion of a $1.533 billion investment for a 62.3% stake.

Allwyn, a gaming entertainment company focused on lotteries, announced that it has finalized its previously disclosed agreement to secure a majority stake in PrizePicks, a leading daily fantasy sports operator in North America. The stake is subject to normal post-closing adjustments and excludes performance-based earnouts. According to the companies, PrizePicks had no outstanding debts at the time of closing.

The deal was originally revealed on September 22, 2025.

“We are thrilled to support and engage in the next chapter of PrizePicks’ expansion. This investment furthers Allwyn’s objective to establish a diverse global entertainment platform and considerably enhances our footprint in the U.S. I eagerly anticipate collaborating closely with Mike and the skilled PrizePicks team to create even more engaging experiences for fans worldwide,” stated Robert Chvatal, CEO of Allwyn.

In the PrizePicks app, the Team Picks feature enables users to predict team outcomes instead of individual player performances. The company has confirmed that this format is currently operational in 30 states and Washington D.C. Additionally, PrizePicks has launched Culture Picks, allowing users to forecast outcomes related to cultural and entertainment events, now available in 48 states and D.C.

Since the initial deal announcement, PrizePicks has also introduced a regulated prediction markets offering in November, broadening its reach to almost every U.S. state. The company operates as a sports entertainment entity registered as a Futures Commission Merchant with the National Futures Association, positioning it to grow under that framework.

PrizePicks has collaborated with Kalshi and Polymarket regarding its prediction markets offerings.

“Today marks a pivotal moment for PrizePicks. Allwyn’s global reach, operational proficiency, and long-term vision make them an ideal ally as we continue our growth and evolution. Together, we will capitalize on our strong momentum and develop innovative products that enhance engagement with our expanding community of players,” remarked Mike Ybarra, Chief Executive Officer of PrizePicks.

Adam Wexler, the founder and board member of PrizePicks, affirmed, the company was established with a focus on its player community and indicates a strong alignment with Allwyn’s approach as they embark on the next phase.

“From the outset, PrizePicks has been built around our community and dedicated to delivering an exceptional member experience. As we look forward to the next stage of PrizePicks’ growth, it has become evident that Allwyn shares our customer-first perspective and vision for the future of entertainment. I’m excited to partner with the Allwyn leadership team as PrizePicks continues to revolutionize the realm of sports and cultural predictions,” added Wexler.

Allwyn stated that PrizePicks possesses capabilities that align with the markets where it seeks to provide casual entertainment options. The collaboration aims to facilitate long-term growth while preserving PrizePicks’ culture, leadership continuity, and adaptability.