PrizePicks has announced that it has received re-approval to operate its fantasy sports contests in New York State and plans to launch its peer-to-peer offering in the market within the coming weeks.
This marks a significant return for the company to one of the largest states in the US.
The operator, which was recently acquired by global lottery giant Allwyn, had been required to cease its New York operations in early 2024.
This halt came after the New York State Gaming Commission implemented expanded and clarified rules regarding fantasy sports contests in late 2023, which impacted PrizePicks’ original game format.
Following the suspension, PrizePicks engaged in close collaboration with the Commission to develop a new game that would align with the state’s stringent regulatory standards.
The result is a peer-to-peer contest that the Commission has now formally recognized as a game of skill, permitting its operation under New York’s fantasy sports laws.
With this decision, New York becomes the 16th jurisdiction to officially recognize the skill-based nature of PrizePicks’ contests.
The company’s successful navigation of the regulatory process underscores a growing trend of innovation within the fantasy sports sector, demonstrating that new game formats can thrive within well-defined legal frameworks.
Jason Barclay, PrizePicks’ Head of Public Policy and Chief Legal Officer, said:
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. 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.
