NYSGC awards PrizePicks with interactive fantasy sports license
PrizePicks ‘worked closely’ with New York gaming regulators to ensure its peer-to-peer contests comply with the state’s ‘strict’ fantasy sports requirements, expanded by the NYSGC in 2023.
Key Points
- The fantasy sports operator stated it expects to launch the new peer-to-peer offering, originally unveiled on August 22, for New York residents within the “coming weeks”
- Despite requiring a legal settlement with the NYSGC in 2024, New York now becomes the 16th jurisdiction to approve PrizePicks’ contests as games of skill under fantasy sports laws
PrizePicks has officially been awarded an interactive fantasy sports operating license by the New York State Gaming Commission (NYSGC), representing the 16th jurisdiction to formally ratify that PrizePicks’ contests can be offered as games of skill under fantasy sports laws.
“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,” PrizePicks CEO Mike Ybarra said.
“We’re thrilled to offer a great entertainment experience that elevates how they engage on game day and beyond.”
Following a legal settlement formed between PrizePicks and the NYSGC in 2024, the operator “worked closely” with state gaming regulators to ensure its peer-to-peer contests comply with the state’s “strict” fantasy sports requirements, which were expanded by the NYSGC in 2023.
“We want to thank the New York State Gaming Commission for their collaboration and recognition of our peer-to-peer offering as a fantasy sports contest,” PrizePicks Head of Public Policy and Chief Legal Officer Jason Barclay said.
Good to know: PrizePicks will begin airing the latest installment of the It’s Good to Be Right campaign with a new social driven commercial series starring Allen Iverson, Candace Parker, Drew ‘Druski’ Desbordes and Sam Richardson
“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.”
The fantasy sports operator stated it expects to launch its new peer-to-peer Arena model, originally unveiled on August 22, for eligible New York residents within the “coming weeks.”
The Arena format enables users to compete directly against other players rather than the operator, a structural change which differentiates from the “against-the-house” pick’em games that have drawn scrutiny from regulators.
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