Allwyn closes $1.5B acquisition of majority stake in PrizePicks
The blockbuster deal for a majority stake in fantasy sports giant PrizePicks is finalized.
European lottery firm Allwyn announced the closing of its deal to acquire a 62.3% stake in PrizePicks, providing the company with one of America’s most popular gaming properties. Allwyn acquired PrizePicks in a deal valued at $1.5 billion that also includes potential for additional cash compensation if PrizePicks meets specific performance-based benchmarks. Allwyn and PrizePicks initially announced the acquisition in September 2025.
“We are excited to support and participate in the next phase of PrizePicks’ growth,” said Allwyn CEO Robert Chvatal. “This investment advances Allwyn’s strategy to build a diversified global entertainment platform and significantly strengthens our presence in the United States.”
PrizePicks diversifies Allwyn’s operations in the U.S. as not just a lottery firm. Allwyn has solidified a presence in North America as a supplier for the Illinois Lottery. Allwyn entered Illinois’ gaming market through its 2023 acquisition of Camelot Lottery Solutions. The Swedish company acquired a majority stake in PrizePicks but the DFS giant will continue to operate as a standalone brand with CEO Mike Ybarra continuing to lead the company.
“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,” said Ybarra. “Together, we will build on our strong momentum and deliver innovative products that deepen engagement with our growing community of players.”
PrizePicks enters the prediction market space
Allwyn acquired a majority stake in PrizePicks as PrizePicks competes in a growing prediction market space through a partnership with prediction market platform Kalshi.
PrizePicks is approved as a futures commission merchant by the National Futures Association (NFA), allowing the company to offer event contract trading but not supply the offerings, as it is not a designated contract market (DCM). PrizePicks also has an event contract deal with Polymarket, allowing it to offer event contracts provided by Polymarket.
Polymarket and Kalshi are both DCMs, providing PrizePicks with access to event contracts. PrizePicks was the first major gaming brand to obtain NFA approval to work with a DCM.
“From the beginning, we built PrizePicks by putting our community first and focusing on delivering an industry-leading member experience,” said PrizePicks founder Adam Wexler. “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.”
PrizePicks offers both sports event contracts and trading on political and cultural events. The company offers sports event contracts in 30 states and Washington, D.C. Its cultural, political and entertainment event contracts are available in 48 states and D.C.
https://sbcamericas.com/2026/01/16/allwyn-closes-deal-stake-in-prizepicks/