PrizePicks Plans Canada Exit While Turning Attention Toward United States Expansion

Key Points

• PrizePicks will leave the Canadian market on April 3 after stopping deposits and fantasy lineups on March 10 while users withdraw remaining funds before April 2.
• The company now directs its focus toward growth in the United States where operations already exist in all fifty states.
• PrizePicks expanded prediction markets through partnerships and products including agreements with Kalshi and Polymarket together with contracts covering sports entertainment and culture.

PrizePicks confirmed the closure of operations in Canada as part of a strategy that moves the company’s attention toward expansion in the United States and prediction market activity. The operator for daily fantasy sports and prediction markets informed customers in Canada that DFS contests will stop within one week before the company exits the country in April. An operator based in Atlanta shared the decision through email communication sent to customers on Tuesday which explained that the company will pause DFS contests in Canada. The same announcement also confirmed that the company now directs resources toward growth opportunities that exist inside the United States market. Customers received a timeline explaining that deposits for fantasy lineups will stop while users cannot create new lineups beginning March 10. Players located in Canada must withdraw remaining account funds before April 2 while all games and operations across the country close on April 3.

The company expressed appreciation toward players through a message included in the customer email communication. PrizePicks stated within that message that the team thanked users for playing and also asked them to contact Live Support for questions. PrizePicks previously operated daily fantasy sports contests across provinces in Canada outside Ontario where regulation follows another system. The company did not apply for an iGaming licence in Ontario and therefore did not provide DFS contests within that province.

Ontario Regulation Creates Pressure for Daily Fantasy Sports Operators

Regulation in Ontario creates challenges for daily fantasy sports operators because all participants in a contest must stay physically located within the province. That rule conflicts with the multi-jurisdiction model which daily fantasy sports rely on to gather player pools across different regions. Fantasy contests operate like online poker because both systems depend on participation from players across many jurisdictions for liquidity and engagement. Ontario ring fencing blocks operators from pooling players across regions which breaks the structure that allows fantasy contests to function. Changes in regulation have already pushed other companies to withdraw services from the market in Ontario. FanDuel and DraftKings removed paid fantasy contests after Ontario introduced regulated iGaming operations across the province.

Other DFS brands avoided entering the market after those changes created uncertainty around participation models for operators. Legal discussion about cross-border pooling reached Canadian courts and brought further attention to the regulatory situation. The Ontario Court of Appeal ruled that nothing inside the Criminal Code blocks cross-border pooling arrangements between jurisdictions. Three Canadian lotteries located outside Ontario challenged the decision and brought the dispute before the Supreme Court. Amid those regulatory complications PrizePicks decided to exit Canada and focus its energy on expansion in the United States market. A spokesperson stated the company remains hyper-focused on expansion across the United States while delivering product experience to players.

United States Growth Gains Momentum with Prediction Market Expansion

The operator now offers some versions of its products in all fifty states across the United States although offerings change according to local rules. Player Picks contests that earlier appeared in Canada outside Ontario now operate in thirty-six states after New York approved a DFS licence. PrizePicks also restarted peer-to-peer DFS contests in New York after receiving an interactive fantasy sports operating licence in October. This relaunch returned games to the state after the company stopped paid contests in February 2024. The shutdown happened after a legal settlement between PrizePicks and the New York State Gaming Commission in 2024. Following that settlement the company worked with regulators so peer-to-peer contests follow fantasy sports requirements in New York. Changes occurred after the New York State Gaming Commission amended DFS rules to block contests that resemble proposition betting.

Those rules prohibit contests where a participant selects whether an athlete or team surpasses a statistical mark during competition. Officials explained that such formats imitate proposition betting structures and therefore conflict with DFS regulatory standards. PrizePicks earlier informed New York customers on February 12 2024 that pick’em paid contests would stop on February 14 at 11:59 p.m. After rule amendments and regulatory discussion the company changed contests so peer-to-peer gameplay aligns with updated state requirements. Last summer PrizePicks also changed its United States product model by removing the against-the-house pick format. The operator introduced peer-to-peer gameplay which regulators treat with more acceptance under fantasy sports frameworks. Since that shift the company expanded operations across the United States market.

Prediction markets also entered the company’s strategy during the previous year as another product direction. In November PrizePicks partnered with Polymarket to integrate event contracts covering sports entertainment and cultural events. Later in that same month the company signed a multi-year partnership with Kalshi for prediction markets covering entertainment and culture. Through that partnership PrizePicks launched prediction market offerings through subsidiary Performance Predictions II which operates as a futures commission merchant. Sports event contracts now operate across thirty five states while prediction market contracts operate across forty eight states. Prediction market contracts do not operate in Nevada or Arizona under the current framework.

PrizePicks Expands Prediction Markets Across 35 U.S. Jurisdictions Amid Industry Shift

Team Picks contracts focused on sports including spreads and totals operate in thirty-five states. PrizePicks Predicts operates through a partnership with Kalshi across thirty-five jurisdictions within the United States. Those jurisdictions include California Texas and Georgia where sports betting remains illegal and unregulated. Expansion of prediction markets forms part of a wider movement within the sports gaming sector. During the previous year prediction markets gained attention by offering sports contracts similar to sportsbook odds and spreads. Growth in this sector created debate across the industry while companies increased their focus on trading exchange platforms. DraftKings FanDuel and Fanatics each launched prediction market platforms during late 2025. PrizePicks strategy also follows an ownership change involving global lottery operator Allwyn.

Allwyn purchased a majority stake in PrizePicks for 1.53 billion dollars in January which valued the company at nearly 2.5 billion dollars. Earlier expansion plans appeared after Allwyn obtained a majority stake in September 2025 when the company’s valuation exceeded 2 billion dollars. Announcement of the Canada exit also followed another industry development involving workforce changes at a rival DFS operator. That operator removed 125 employees as the company moved deeper into prediction market operations. With the Canadian market closing during early April PrizePicks will continue focusing on DFS licensing and prediction market expansion across the United States.