PrizePicks has announced a landmark partnership with Polymarket, marking its official entry into the federally regulated event-contract space. Through a multi-year deal, PrizePicks will integrate Polymarket’s event contracts via its app.
The partnership allows users to trade event contracts on various outcomes, including sporting events.
“As the No. 1 daily fantasy sports operator in the U.S., PrizePicks is thrilled to partner with Polymarket, a trailblazer in the prediction space, to open up new experiences for our millions of existing members and introduce our platform to millions of new customers,” said PrizePicks CEO Mike Ybarra in a press release.
“By entering the U.S. predictions market, PrizePicks will create greater competition, drive innovation, and deliver even more value directly to members.”
Polymarket founder and CEO Shayne Coplan said the collaboration illustrates how prediction markets can complement mainstream sports engagement rather than compete with it.
“PrizePicks has built one of the nation’s most exciting sports communities, and we are excited to help bring prediction markets into that world,” Coplan said. “As we prepare to return to the U.S., this partnership shows how prediction markets can enhance fandom while setting a new standard for interactive, regulated sports engagement.”
The announcement did not mention dates, but Polymarket expects to relaunch in the US within weeks.
From Allwyn Takeover to Federal Approval
The new partnership builds on PrizePicks’ post-acquisition transformation under Allwyn, the Czech-based lottery and gaming conglomerate.
After the announcement of the deal in September, Allwyn made clear that its goal was to push PrizePicks into new, regulated verticals and away from gray-market structures, such as prop bet DFS.
Shortly after the takeover, PrizePicks registered as a Futures Commission Merchant (FCM) with the National Futures Association (NFA).
That federal registration allows the company to offer CFTC-approved event contracts. Robinhood, for example, also acts as an FCM, offering event contracts through its partnership with Kalshi.
The FCM registration positions PrizePicks not just as a fantasy operator, but as a federally supervised market intermediary able to clear and custody customer positions.
Pivot Away From Pick ‘Em DFS
The shift toward federally regulated products follows a turbulent period in which PrizePicks and other fantasy operators faced mounting pressure from state regulators over their player-performance “Pick’Em” games.
These contests — long a flagship feature of fantasy platforms — were increasingly deemed illegal sports wagering by attorneys general and gaming boards across multiple states.
In August, PrizePicks voluntarily ended its Pick’Em real-money contests across the US. That marked a clear strategic pivot toward compliance and long-term stability. Weeks later, the company secured a new fantasy sports license in New York. That signaled its intention to rebuild under formal regulatory frameworks.
The Polymarket integration complements that evolution — transforming PrizePicks from a fantasy-based parlay model into a federally recognized prediction operator.
Rival Underdog Moves First
PrizePicks is not the only DFS operator looking to enter prediction markets. Its chief rival, Underdog Fantasy, had already moved into the sector through a partnership with Crypto.com in early September.
That collaboration allows Underdog users in Texas, California, and other non-betting states to place event-based wagers through a crypto-linked interface. The platform has since announced plans to offload its market-making risk to exchanges like Kalshi and Crypto.com. With this strategy, Underdog is effectively outsourcing the regulatory complexity while retaining the customer experience.
Notably, while both target the same space, PrizePicks’ model is far more regulated. Its Polymarket partnership operates under federal CFTC oversight through its FCM license, enabling nationwide event contracts within its app.
Underdog, by contrast, relies on crypto exchange partnerships that sit outside traditional US regulation. That gives PrizePicks a broader, more compliant foundation for long-term growth.
Polymarket’s US Relaunch Nears — but Faces Delays
The partnership comes as Polymarket prepares its long-awaited US relaunch. The company is backed by an investment of up to $2 billion from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. The funding underscores growing institutional confidence in prediction markets. It also provides Polymarket with the infrastructure to scale rapidly once it goes live.
Polymarket had self-certified to offer sports event contracts with the CFTC in late September, suggesting a US return was imminent. However, according to Front Office Sports, the ongoing federal government shutdown has delayed several CFTC processes. That includes approvals tied to the relaunch.
When it does return, Polymarket will operate under its newly acquired QCEX license, a CFTC-regulated exchange and clearinghouse. This framework will bring the platform’s previously global, crypto-based operations into full compliance with US regulations.
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PrizePicks has announced a landmark partnership with Polymarket, marking its official entry into the federally regulated event-contract space. Through a multi-year deal, PrizePicks will integrate Polymarket’s event contracts via its app. The partnership allows users to trade event contracts on various outcomes, including sporting events. “As the No. 1 daily fantasy sports operator in the
The post PrizePicks Partners With Polymarket to Enter Regulated Prediction Markets appeared first on CasinoBeats.