PrizePicks vs. State Monopolies: CA, FL, TX prediction markets with
PrizePicks has shaken up the gaming board in North America by expanding its "Prediction Markets" to 48 states, managing to penetrate protected markets such as California, Texas, and Florida. Thanks to a strategic alliance with Kalshi and Polymarket, the DFS giant has found in CFTC event contracts (Commodity Futures Trading Commission) the key to operate where traditional sportsbooks are banned.
The "fast track" to forbidden markets
The expansion is a bold response to regulatory barriers. By relying on CFTC approval for prediction markets, PrizePicks offers its products to residents over 18 years old, even in states where the minimum betting age is 21 or where online gambling is illegal.
- The challenge to Florida and California: While in Florida the Seminoles hold the exclusivity of sports betting, PrizePicks operates its "Team Picks" under the exchange (peer-to-peer) format, which technically differentiates it from a counterparty bet.
- Team Picks vs. Sportsbooks: Although PrizePicks is known for player performance, its new Team Picks product allows predicting point spreads and titles, an offer many analysts consider indistinguishable from a conventional sportsbook, but under a legal framework of a "futures market."
Allwyn takes control: A $1.6 billion deal
This rollout coincides with the consolidation of Allwyn International. The Swiss giant has completed the acquisition of 62.3% of PrizePicks for a value of $1.6 billion. This deal, initiated in September 2025, positions Allwyn as a dominant player in the U.S. market, using PrizePicks as its cutting-edge technology platform.
Tags: United States, USA, PricePicks, PricePicks predictive markets, predictive markets