PrizePicks To Exit Canada By April, Focus on U.S. Expansion

• PrizePicks today informed its Canada customers the company will be leaving the market by April 3
• Lineups and deposits will cease by March 10
• The company will focus on U.S. expansion and prediction markets moving forward

PrizePicks today informed its Canada customers the company will be ceasing daily fantasy sports contests within the next week and will be leaving the market entirely by April.

A PrizePicks spokesperson confirmed the announcement with Sports Betting Dime. PrizePicks will no longer accept daily fantasy sports lineups or deposits by Tuesday, March 10, and will leave the country entirely by April 3.

All PrizePicks users will be required to withdraw funds from their accounts by April 2.

Hyper Focused on U.S. Expansion

PrizePicks will continue its planned U.S. expansion moving forward and will focus on its prediction market offerings, a PrizePicks spokesperson told Sports Betting Dime.

“On March 3, PrizePicks announced its planned exit from the Canadian market. We are currently hyper focused on our continued expansion across the U.S. and delivering the best product experience for our players,” the spokesperson said.

PrizePicks did not offer daily fantasy sports in Ontario, as it was not licensed to do so in the province. It offered DFS contests throughout the remaining Canada provinces, however.

The company will continue to focus on becoming licensed for DFS in other U.S. states and expand its prediction market services throughout the country. PrizePicks launched its prediction market offerings in November through its subsidiary, Performance Predictions II, a federally approved futures commission merchant. It also announced a new multi-year partnership with Kalshi.

PrizePicks currently offers its sports event contracts in 35 states and its prediction market contracts in 48 states. It offers no prediction market contracts of any kind in either Nevada or Arizona.

Recent New York Relaunch

PrizePicks recently announced a relaunch of its peer-to-peer daily fantasy sports contests in New York, bringing the games to the Empire State after receiving an interactive fantasy sports operating license this past October.

PrizePicks DFS games returned to New York for the first time since the company shut down its paid contests in the state in February 2024. Following a legal settlement with the New York State Gaming Commission in 2024, PrizePicks worked with state gaming regulators to ensure its peer-to-peer contests were within New York’s fantasy sports requirements.

PrizePicks altered its New York contests in 2024 after the New York State Gaming Commission amended its daily fantasy sports rules to prohibit contests that mimic proposition bets. The criteria for DFS games are clear, as they prohibit any and all games that resemble proposition betting.

“These would include statutory standards as well as a requirement that contests shall not be based on proposition betting and shall not have the effect of mimicking proposition betting. Contests in which a contestant chooses whether an individual athlete or a single team will surpass an identified statistical achievement would be prohibited,” a paragraph of the approved rules reads.

The daily fantasy sports operator notified New York customers on Feb. 12, 2024, that its traditional pick’em paid contests would cease in the state on Wednesday, Feb. 14, at 11:59 p.m.