Fantasy sports activities large PrizePicks introduced a serious partnership with prediction market platform Polymarket on November 11, 2025. The deal will carry event-based prediction contracts to PrizePicks’ hundreds of thousands of customers, marking a major shift in how People can interact with prediction markets.
This partnership comes as PrizePicks becomes the primary sports activities leisure operator registered as a Futures Fee Service provider (FCM) with the Nationwide Futures Affiliation (NFA). This registration permits the corporate to supply CFTC-regulated derivatives contracts by means of partnerships with federally authorized exchanges.
What the Partnership Means
PrizePicks will combine Polymarket’s occasion contracts instantly into its app. These contracts will cowl sports activities, leisure, and cultural occasions. Customers will have the ability to predict outcomes on subjects past conventional fantasy sports activities lineups.
The rollout will occur when Polymarket formally returns to the US market. The corporate left the US in 2022 after paying a $1.Four million wonderful to the CFTC for working with out correct registration.
Supply: @Polymarket
PrizePicks CEO Mike Ybarra mentioned the partnership will “open up new experiences for our hundreds of thousands of current members and introduce our platform to hundreds of thousands of recent prospects.” Polymarket CEO Shayne Coplan added that the collaboration exhibits “how prediction markets can improve fandom whereas setting a brand new customary for interactive, regulated sports activities engagement.”
PrizePicks’ Regulatory Technique
Not like opponents taking a extra aggressive strategy, PrizePicks is focusing closely on compliance. The corporate voluntarily ended its Decide’Em real-money contests throughout the US in August 2024. This transfer shocked many within the trade however positioned PrizePicks for long-term regulatory approval.
The FCM license is a game-changer. It permits PrizePicks to supply prediction market contracts nationwide underneath federal oversight. This differs from state-by-state playing licenses that many opponents use.
PrizePicks at the moment operates in additional than 45 US jurisdictions. The platform has over three million registered customers and a couple of million month-to-month lively customers. In September 2025, lottery operator Allwyn acquired 62.3% of the corporate for $1.6 billion, valuing PrizePicks at $2.5 billion upfront, with potential to achieve $4.15 billion based mostly on efficiency metrics.
Polymarket’s Return to America
Polymarket has been getting ready for its US comeback for months. In July 2025, the platform purchased QCEX for $112 million. QCEX is a CFTC-licensed change and clearinghouse, giving Polymarket the regulatory infrastructure wanted to function legally in the US.
The larger information got here in October 2025 when Intercontinental Alternate (ICE) introduced a large funding. ICE, which owns the New York Inventory Alternate, committed up to $2 billion in Polymarket, valuing the prediction market platform at $9 billion. Past the cash, ICE will distribute Polymarket’s event-driven information to institutional prospects worldwide.
Polymarket has additionally confirmed plans to launch its native POLY token. The corporate introduced on October 24, 2025, that it’ll distribute tokens by means of an airdrop to customers, although the US market relaunch takes precedence over the token launch.
Competitors and Business Panorama
PrizePicks isn’t the one fantasy sports activities operator coming into prediction markets. Its foremost rival, Underdog Fantasy, partnered with Crypto.com in early September to supply comparable merchandise. Nonetheless, PrizePicks’ FCM-regulated mannequin operates underneath stricter federal oversight.
Conventional sports activities betting large DraftKings can also be planning to work with Polymarket. The corporate’s CEO talked about throughout an earnings name that prediction markets might assist develop its buyer base. Polymarket will function the designated clearinghouse for DraftKings’ upcoming predictions market.
Regulatory Challenges Forward
Not everybody welcomes the prediction market increase. A number of states are pushing again in opposition to event-based contracts, arguing they’re primarily unlicensed sports activities betting. Corporations like Kalshi and Robinhood face lawsuits in a number of states over their prediction market choices.
Gaming regulators in Arizona, Ohio, Illinois, New York, and Michigan have warned licensed operators about getting concerned with prediction markets. The authorized panorama stays unsure as states and federal regulators work out jurisdiction questions.
There are additionally considerations about market integrity. A Columbia College examine discovered that synthetic buying and selling accounted for a median of 25% of all exercise on Polymarket over the previous three years. The wash buying and selling exercise started in July 2024, when it peaked at practically 60% of weekly quantity. In December 2024, practically 60% of weekly trades have been once more flagged as probably wash buying and selling, with researchers detecting coordinated networks of 43,000 wallets.
Regardless of these considerations, Polymarket continues rising. In November 2025 alone, the platform noticed $864 million in cumulative quantity, practically matching your complete month of September.
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