Another Sports Betting Powerhouse Is Getting Into Prediction Markets

PrizePicks has received a Futures Commission Merchant (FCM) license from the National Futures Association (NFA), making it the first sports entertainment operator to do so. This license permits the company to offer prediction markets alongside its existing fantasy sports betting services. PrizePicks' entry into this growing sector comes shortly after European lottery giant Allwyn International acquired a majority stake in the company for $1.6 billion. The prediction market is projected to be a significant industry, potentially reaching $95 billion by 2035. With this license, PrizePicks will be joining FanDuel in the prediction market arena. The FCM license allows PrizePicks to list contracts for prediction markets by partnering with companies that hold a Designated Contract Markets (DCM) license. This move not only highlights PrizePicks' commitment to compliance and consumer protection but also represents Allwyn's strategic investment in the U.S. sports and entertainment market. The company is poised for growth, as it currently operates in 35 states and Washington, D.C.

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