PrizePicks Sells Majority of Its Company to European Lottery Entertainment Company Allwyn

PrizePicks recently announced it was selling two-thirds of its firm to Allwyn, a lottery entertainment-based company with offices throughout Europe, for $1.6 billion and possibly more if performance thresholds are met.

Allwyn Goes All-In With PrizePicks

Allwyn operates primarily across the pond, with its only US-based contract tied to running the Illinois Lottery. However, consolidating big brands under one roof is something it is accustomed to doing, as in the case of European brands Sazka and Camelot.

The most recent deal has Allwyn buying two-thirds of PrizePicks for $1.6 billion and, perhaps, another $1 billion in 2029 should certain incentives be reached. The deal is expected to close in the first half of 2026, giving PrizePicks a possible $4.15 billion valuation.

PrizePicks, the peer-to-peer pick’em daily fantasy sports operator, has more than 20 million registered player accounts and two million monthly active users. Despite the sale, it will continue to be operated by its current management but will have the support of a much larger company behind it.

Hidden Agenda

Following the sale to Allywyn, PrizePicks became the first daily fantasy sports operator to acquire approval to operate as a Futures Commission Merchant (FCM) and receive FCM registration from the National Futures Association (NFA).

Under the name PrizePicks Predict, it will allow customers to buy and sell futures contracts listed on Designated Contract Markets (DCMs) and regulated by the Commodity Futures Trading Commission (CFTC). This has become a third-rail issue for many gaming regulators, citing FCMs as breaking their state laws and offering sports event contracts without obtaining proper licenses in those states in which they operate.

However, FCMs like Kalshi have scored legal victories under the cover of the federally regulated CFTC, which they claim supersedes state authority.

PrizePicks CEO, Mike Ybarra, said in a release: “The honor of being the first sports entertainment platform to receive an FCM registration from the NFA is a testament to our industry-leading compliance and consumer protection programs that both the NFA and CFTC demand. Acting Chairman Caroline Pham’s vision for the CFTC promotes innovation while reinforcing the importance of strong regulatory standards. Her leadership has set a thoughtful tone for the agency and our industry.”

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