PrizePicks and Polymarket Announce Prediction Markets Partnership

Daily fantasy sports operator PrizePicks has signed a multi-year deal with Polymarket to add regulated event contracts to its prediction markets platform. PrizePicks is moving beyond its traditional daily fantasy sports model by allowing users to trade on the outcomes of sports, entertainment, and cultural events.

The partnership is a milestone for Polymarket, which has been preparing to resume operations in the US after months of regulatory coordination. By merging PrizePicks' large customer base with Polymarket's event-based trading technology, the companies aim to expand participation in regulated prediction markets and introduce more ways for fans to engage with real-world events.

"By entering the U.S. predictions market, PrizePicks will create greater competition, drive innovation and deliver even more value directly to members. Together with Polymarket, we'll continue to focus on product, innovation, and exceeding our customers' expectations," said Mike Ybarra, CEO of PrizePicks.

Polymarket founder Shayne Coplan added that the agreement shows that prediction market apps can operate responsibly within existing gaming frameworks and complement established sports platforms. He described the collaboration as an example of how transparent event trading can coexist with mainstream fantasy sports under formal oversight.

Polymarket has not provided a launch date for its US return, but has strengthened its foundation with recent developments, including a commitment of up to $2 billion from Intercontinental Exchange and the purchase of QCEX to support regulated market operations. 

PrizePicks has become the first fantasy sports operator to register as a Futures Commission Merchant with the National Futures Association (NFA). This adds to its reputation for following the rules.

PrizePicks CEO discusses prediction markets and regulation

Expanding on the partnership, Ybarra said in an interview on Squawk Box that prediction markets would roll out in the US this week, describing them as a complement rather than a replacement for daily fantasy sports. 

He noted that the new product would enable PrizePicks to enter additional states and attract millions of new users.

Ybarra distinguished prediction markets from traditional online sports betting, emphasizing that sports betting involves wagers against the house. In contrast, prediction markets are peer-to-peer systems determined by supply and demand. He said this structure creates fairer engagement opportunities without house-imposed margins. 

Ybarra also discussed the importance of regulatory partnerships at both the state and federal levels to alleviate concerns about integrity. He added that PrizePicks is the only fantasy sports operator licensed as a Futures Commission Merchant by the Commodity Futures Trading Commission and NFA.

PrizePicks won’t have access to every market, according to Ybarra, but will instead focus on contests that are fair, curated, and open. He added that the company is working closely with regulators and sports leagues to ensure integrity and responsible innovation. 

When asked about pitch-level betting, which has come under scrutiny following a recent MLB betting scandal, Ybarra noted that the industry and leagues should collaborate to maintain fairness while preserving fan engagement. 

He concluded that greater competition would foster innovation, customer value, and growth across daily fantasy sports and prediction markets.