Almost two years following a $15 million settlement over unlicensed operations, PrizePicks is set to make a comeback in New York with a freshly acquired license and an innovative peer-to-peer fantasy contest format that has received regulatory approval.
The New York State Gaming Commission (NYSGC) has confirmed that PrizePicks has fulfilled all requirements to recommence its operations in the state, authorizing the company to issue an interactive fantasy sports license. The operator plans to relaunch its peer-to-peer fantasy contests in New York within the upcoming weeks.
In a correspondence dated October 10, the NYSGC indicated that the operator has met all conditions to provide its contests in the market. The approval comes after an extensive collaboration between PrizePicks and regulators to ensure the company’s offerings are in line with state regulations governing fantasy sports.
“We put in a lot of effort to create a game that aligns with the Commission’s strict standards, and the decision by New York highlights the fact that innovation in fantasy sports can prosper under a well-defined regulatory structure,” said Jason Barclay, PrizePicks’ Head of Public Policy and Chief Legal Officer.
Contextual Background and Settlement
PrizePicks halted its cash contests in February 2024 as part of a settlement agreement with the NYSGC, which mandated the operator to pay nearly $15 million for operating without a license. The resolution came four months after New York amended its fantasy sports regulations, clarifying that contests resembling prop betting were disallowed.
New York State Senator Joseph Addabbo stated that the latest decision of the commission reinforces the state’s stance on skill-based fantasy contests. “By granting this license, the Gaming Commission is signaling that our state will persist in supporting innovative Daily Fantasy Sports (DFS) games that offer New Yorkers safe, skill-based competitions to enjoy with friends, family, and fellow sports enthusiasts,” Addabbo remarked.
Industry Recognition and Market Expansion
“New York is home to some of the most fervent sports fans in the nation, and we are confident they will be thrilled to see PrizePicks return,” remarked Mike Ybarra, CEO of PrizePicks. “We are delighted to present an outstanding entertainment option that enhances how they engage on game days and beyond.”
With this approval, New York becomes the 16th jurisdiction to formally recognize PrizePicks’ contests as skill-based games under fantasy sports legislation. The Atlanta-based firm currently operates in over 45 jurisdictions across North America.
PrizePicks emphasized that responsible gaming continues to be a fundamental priority as it expands into regulated markets. In 2025, the operator received iCAP accreditation from the National Council on Problem Gambling for its responsible gaming initiatives, marking the first fantasy sports entity to achieve this certification.
Headquartered in Atlanta, Georgia, PrizePicks identifies itself as a sports entertainment provider offering skill-based fantasy contests for enthusiasts throughout the United States.