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Allwyn has closed its $1.5 billion deal to take control of PrizePicks, securing a 62.3% stake in the US daily fantasy sports operator.
The agreement, first announced in September 2025, was completed on January 16 with a final consideration of $1.533 billion. PrizePicks entered the transaction with no outstanding debt, giving Allwyn a clean entry point into one of North America’s fastest-growing gaming segments.
The acquisition marks a significant expansion of Allwyn’s footprint away from its lottery history. The Swiss company already supplies the Illinois Lottery through its earlier purchase of Camelot Lottery Solutions in 2023, but PrizePicks adds a new dimension by widening operations into fantasy sports and prediction markets.
Despite the majority stake, PrizePicks will continue to run independently, with CEO Mike Ybarra remaining as CEO.
“Today marks a defining moment for PrizePicks. Allwyn’s global scale, operational expertise, and long-term approach make them an ideal partner as we continue to grow and evolve. Together, we will build on our strong momentum and deliver innovative products that deepen engagement with our growing community of players,” Ybarra stated.
Two new offerings added to PrizePicks, prediction markets one of them
PrizePicks has expanded its app with two fresh features that go beyond traditional fantasy play. Team Picks lets users focus on team outcomes instead of individual player stats, and it is already available in 30 states plus s Washington D.C.
Culture Picks takes the concept further, allowing predictions on cultural and entertainment events, and has rolled out in 48 states and DC.
Alongside these additions, PrizePicks has gone deeper into prediction markets through partnerships with Kalshi and Polymarket. Both are designated contract markets, giving PrizePicks access to event contracts it cannot supply on its own.
The company holds approval from the National Futures Association as a futures commission merchant, which allows it to trade these contracts but not originate them. By teaming up with Kalshi and Polymarket, PrizePicks became the first major gaming brand to secure NFA approval to work directly with a DCM.
“We are excited to support and participate in the next phase of PrizePicks’ growth. This investment advances Allwyn’s strategy to build a diversified global entertainment platform and significantly strengthens our presence in the United States. I look forward to working closely with Mike and the talented PrizePicks team to deliver even more compelling experiences for fans around the world,” said Robert Chvatal, Chief Executive Officer of Allwyn.
“From the beginning, we built PrizePicks by putting our community first and focusing on delivering an industry-leading member experience. As we looked ahead to the next phase of PrizePicks’ growth, it became clear that Allwyn shares our customer-first philosophy and our vision for the future of entertainment. I could not be more excited to collaborate with the Allwyn leadership team as PrizePicks continues to innovate in the world of sports and culture predictions,” Adam Wexler, Founder and PrizePicks Board Member, added.
