The post PrizePicks Gets CFTC Approval to Launch Prediction Markets appeared first on Vegas Slots Online News.
On the same day that Allwyn Entertainment announced it was buying a majority stake in PrizePicks for $1.6bn, the Atlanta-based daily fantasy sports (DFS) operator received approval to be a futures commission merchant (FCM).
would need to partner with a designated contract market
The green light from the Commodity Futures Trading Commission (CFTC) was for the company’s Performance Predictions II LLC subsidiary and paves the way for the rollout of a nationwide predictions product. PrizePicks would need to partner with a designated contract market like Crypto.com or Kalshi to do so.
Underdog Sports was the first existing DFS operator to enter the predictions market after it struck a deal with Crypto.com earlier this month.
The post PrizePicks Gets CFTC Approval to Launch Prediction Markets appeared first on Vegas Slots Online News.
